Buy Federal Bank Futures around 470: VK Sharma

Buy Federal Bank Futures around 470, says VK Sharma, HDFC Securities.

Sharma told CNBC-TV18, "Federal Bank looks good because the kind of positions that have been build there - 30% open interest has been added there and the stock options are not liquid, so maybe in Federal Bank I recommend buying the futures at around 470 put a stop loss of Rs 4 there and hope to make Rs 10 today."

He further added, "Century Textiles - I think again you will have to buy, future options are not liquid here. Positions that were building were very minor around 3% but nevertheless that is a stock which can move despite where the index is going. Maybe buying at around Rs 369 putting a stop loss at Rs 4 at Rs 365 and hoping to make Rs 9 on this by selling it at Rs 378."