Buy Hindalco 160 Call, short HCL Tech: Rahul Shah

Rahul Shah of Motilal Oswal told CNBC-TV18, "Entire metal pack saw some kind of short covering in last few sessions and they are at some support level. So, I believe that Hindalco Industries still can be bought. However, we should be buying Call option for the next month. The sector overall looks weak but we can see some kind of momentum happening in overall metal stocks. So, buy Hindalco 160 Call for the next month with a target of Rs 8.50."

"HCL Technologies has given fantastic returns post January till date. So, we would go short on the stock with a stop loss of Rs 2050 with a target of Rs 1900," he said.

Disclosure: Analyst does not have any positions. He has recommended to his clients all the stocks.