Buy Glenmark Pharma 740 Call, says VK Sharma

VK Sharma of HDFC Securities told CNBC-TV18, "I choose Glenmark Pharma because of the fact that technically it has moved up. Open interest has reduced but that was because people who have short are now covered. I am suggesting buying 740 Call around Rs 23, stoploss at Rs 18 and hope to sell it around Rs 35. This is one stock which should go above Rs 740 or if closes above Rs 740 then it will get more steam."

At 09:21 hrs Glenmark Pharma was quoting at Rs 738.45, up Rs 10.35, or 1.42 percent. It has touched an intraday high of Rs 740 and an intraday low of Rs 732.10.