Buy Canara Bank 310 Call, advises VK Sharma

VK Sharma of HDFC Securities told CNBC-TV18, "Canara Bank is one of those banks which will get a private sector honcho. So, we are gung-ho on that. It has been driven up almost 18 percent and by virtue of the fact that there has been short covering, net buying has still not happened. Yesterday, we did see positions being bought to the extent of 10 percent. The stock went up by three percent.""I am suggesting buying the 310 Call which closed at around Rs 13. Keep a stop loss at Rs 7 and a target of around Rs 18," he said.