Last Updated : Jan 16, 2018 12:10 PM IST | Source: CNBC-TV18

Buy Exide Industries, Just Dial: Gaurav Bissa

Gaurav Bissa of LKP Securities is of the view that one may buy Exide Industries and Just Dial.

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Gaurav Bissa of LKP Securities told CNBC-TV18, "We have seen Exide Industries has been consolidating for last few weeks. It has now come out of the consolidation, lot of writing was seen into the call option. It is now trading above 230 Call option."

"It has seen some amount of profit booking with the kind of market that we have seen today but overall the sentiment is quite strong. If you look at the data as well that is also showing good amount of traction coming in. If one needs to talk of open interest (OI) we have seen 3-4 percent OI addition happening today. In last 3-4 days 7-8 percent OI has been seen, good amount of longs are now seen getting build. One can have a stoploss of Rs 230 to 229. Buy about Rs 232 with a target of Rs 240 in mind."

"Second would be buy on Just Dial. 8-9 percent OI addition have seen today. Rs 620 immediate hurdle, if it sustains Rs 620 a quick move till Rs 660 in the current series or next 4-5 days cannot be ruled out. With a stoploss of Rs 618 one can buy for Rs 650-660 kind of targets."

"Sole sell recommendation would be on BPCL, 8 percent OI addition we have seen today. Consistent short selling for last two trading sessions. Rs 480 was the immediate support trading below those levels. Rs 465 would be the target and Rs 486 would be the stoploss for the same," he added.
First Published on Jan 16, 2018 12:00 pm
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