Buy BHEL 170 Put, Voltas 300 Call: Chandan Taparia

Chandan Taparia of Anand Rathi Securities told CNBC-TV18, "Voltas is strong and continuously making higher top-higher bottom formation from last five weeks. We have seen build-up of long positions even after market is falling down from last two weeks. So the price pattern in the database is quite strong. The stock has surpassed immediate hurdle of Rs 292 and set to start the next leg of rally. On immediate basis, I am expecting it to hit towards Rs 305 to Rs 310 levels but looking at the event, I am suggesting to trade with 300 Call, keep a stop loss of Rs 5 and expecting the 300 Call to move towards Rs 13-14 on the upside." "Bharat Heavy Electricals (BHEL) is not ready to give any bounce back move even after the recovery in the broader market. It is continuously making lower top-lower bottom formation and sustain Call writing is keeping the stock under bear grip. It has immediate support near Rs 164-165. The stock is trading at oversold territory, so I am suggesting trading in the money Put, buy 170 Put, keep the stop loss of Rs 4.5 and expect this Put to move towards Rs 12," he said.