Tata Global Beverage may see Rs 160-162: SP Tulsian

Tata Global Beverage may see Rs 160-162 in February series, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, “When the series has started Tata Global was ruling at 160-162. What I have gathered is that a lot of put buying had happened by the informed circle of Rs 150 put and lot of call writing has happened of Rs 160. Obviously, if that position has been taken by the informed circles, they will be expecting to make the shares rule below Rs 140-145 or maybe Rs 150 but this result has really revived the hopes. In fact last month we have seen the LIC also selling their stake in the company. So lot of short covering, I don’t know the closing on the average basis, what it will arrive at, whether at Rs 149-148 - that’s a different case but lot of short covering is due The spill over effect will be seen in the next series.”
He further added, “I am expecting next series to show for Tata Global maybe at about Rs 160-162 or maybe Rs 160 plus in next one week or so because now, people will not be able to continue with their short though the options will get expired with this expiry. Apart from that, there are other few stocks like Sintex, I am expecting the short covering to happen. I have not been able to identify any other stocks except for these two counters.”