Buy Crompton Greaves 175 Call: Amit Gupta

Amit Gupta of ICICIdirect told CNBC-TV18, "Crompton Greaves is one of those stocks which has not shown the kind of strength but even in the falling market it has not shown that kind of weakness too. What we have observed recently is that when it was falling from Rs 187-188 levels towards Rs 160 there was almost 25-30 percent of short additions and the future is trading at a discount. Yesterday also it was at a discount. So, I think once we are moving towards expiry and if we are able to hold around 7,800 levels then it may be one of those short covering candidates for the expiry week also." "We are buying 175 Call options rather than buying futures because the Calls were more heavily written. For 170 Call we have already started seeing a closer, so almost 15-18 percent of closer we have seen in 170 Call. It is possible that premiums may escalate in this particular script, so we are targeting almost Rs 9-10 on the higher side," he said.