Buy Coal India, Tech Mahindra, Indiabulls Real Estate: Bissa

Gaurav Bissa, Derivatives Analyst at LKP Securities told CNBC-TV18, "First recommendation is buy on Coal India futures. It has seen decent amount of long positions. On a concession basis, the stock has given a breakout of a bullish flag pattern. So everything augurs well for this stocks. One can have a stop loss of Rs 312 and place a target of Rs 330.""Second stock would be buy on Tech Mahindra 520 strike Put option for target of Rs 14 with a stop loss of Rs 4.5. It has been trading in a range Rs 535-545 and has broken that range. On daily charts, the stock given a breakdown on the bullish flag pattern. So, there is a chance that it may again see levels of Rs 510-515 in next two or three trading sessions. The targets of Rs 14 can be surpassed if it trades below Rs 510, but for now trading for one or two days, I think it makes good sense to go long in Put option," he said. "Final recommendation would be buy on Indiabulls Real Estate 85 strike Put option. We have seen some short coming in from Rs 100 levels. Increased buying activity is seen in 90 strike Put option, 95 strike Put option. Since the lots are larger, I am recommending 85 Put option and one can even go long on 90 strike Put option. For 85 Put option the stop loss would be Re 0.50 and targets would be Rs 3."