Buy ICICI Bank 270 Call, Biocon 700 Put: Rahul Shah

Rahul Shah of Motilal Oswal told CNBC-TV18, "The entire banking index has been an outperformer, so we saw the Bank Nifty touching 52-week high on Friday and I think it continued today as well. ICICI Bank and Axis Bank saw some kind of catch up on Thursday and on Friday’s session and some long built up which was visible in ICICI Bank. So I would buy 270 Call of ICICI Bank quoting around Rs 6.7-6.68, keep stop loss of Rs 5 and target of Rs 10.""It looks like entire infra as an index is going to outperform in near term. Larsen & Toubro was one stock which has been outperforming since last two series and it refuses to fall inspite of some kind of fall in the markets. So, I feel even the long built up in Larsen will continue to do well. So, in the near term, the stock also looks quite bullish from the near term perspective. So I would buy L&T with a stop loss of Rs 1,578 and target of Rs 1,650," he said."After hitting a 52 week high, Biocon was consolidating for quite few sessions and in last two sessions markets were doing fairly okay. I feel that somewhere profit booking has come and the stock might consolidate and it saw some more weakness. So the best way is to buy Put. I would buy 700 Put quoting around Rs 18 or so, keep a stop loss of Rs 14 and target of Rs 30.""I think Aditya Birla Nuvo is one of the stock which has seen some weakness today, but this stock has been continuously on upmove nearly to the 52-week high. So, I feel there is an opportunity where we have seen some falls in it. So, overall positioning looks quite promising, so I would buy Aditya Birla Nuvo with a stop loss of Rs 1,185 for target of Rs 1,270," he added.