Buy Glenmark 1060 Call, bull spread in Britannia: VK Sharma

VK Sharma of HDFC Securities told CNBC-TV18, "Glenmark Pharma is definitely a stock which is going to find a change in one of the MSCI indices. Also the open interest has been built quite healthily. We saw an open interest built up of around 7 percent. Technically also the stock went up by another 2 percent yesterday. So I am suggesting buying 1,060 Call at around Rs 30 with a stop loss at Rs 20 and possible target of around Rs 55.""Although I am suggesting a bull spread in Britannia Industries, should you find any kind of a reason to change that position then getting out of bull spread will be very difficult and it would be more loss making. So to that extent if you are tentative then don’t do it otherwise if you are okay then buy 3,400 Call at around Rs 78 and sell 3,500 Call at around Rs 43. Your cost will come to Rs 35 and maximum possible target is around Rs 65, you cannot earn more than that even if the price goes up," he said.