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    HomeNewsBusinessStocksBuy Coal India 280 Put, says VK Sharma

    Buy Coal India 280 Put, says VK Sharma

    VK Sharma of HDFC Securities is of the view that one may buy Coal India 280 Put, keep a stoploss at Rs 4 and hope to sell it at around Rs 12.

    July 29, 2013 / 12:54 IST

    VK Sharma of HDFC Securities told CNBC-TV18, "Coal India is under tremendous pressure and despite the stock coming down to almost Rs 282 level, we have seen positions being built on the short side almost 12 percent positions were added on the short side. The stock went down by 4 percent. My sense is it will further go down."

    He further added, "I am suggesting buying the 280 Put, which was available at around Rs 6.50, keep a stop loss at Rs 4 and hope to sell it at around Rs 12. So there is money to be made in the entire metal space by being short."

    first published: Jul 29, 2013 12:54 pm

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