Buy Castrol, Arvind; sell Apollo Tyres, ITC: Chandan Taparia

Chandan Taparia of Anand Rathi Securities told CNBC-TV18, "First trade is buy on Castrol India. This stock has seen a positive price pattern. Supports are shifting on higher side. It has surpassed immediate hurdle of Rs 408-410 zone. So looking for a positional target of Rs 441 one can buy on the small decline with a stop loss of Rs 400.""Second trade is buy on Arvind. Here we are suggesting to be with Bull Call Spread. The stock has managed to respect its multiple support of Rs 357 and all set to head towards Rs 400 zone. So, recommending to be with Bull Call Spread by buying 380 Call and selling 400 Call. In the entire trade, the risk is only 7 points. One can get the profit of around 13 points. We are expecting this stock to head towards Rs 400 zone," he said."On the negative side, most of the tyre stocks are witnessing built up of short position. Apollo Tyres is a sell where we are witnessing Call writing and the built up of short position. So, suggesting to buy 185 Put and expecting the Put to head towards Rs 14.""The last trade will be buy on ITC Put. The stock has failed to surpass multiple hurdle of Rs 267 and most of the time ahead of the Budget the stock might see some volatile move. So looking for 255 Put to buy with a stop loss of Rs 4 for target of Rs 16."