Buy Jet Airways 580 Put, HPCL 960 Call: Gaurav Bissa

Gaurav Bissa of LKP Securities told CNBC-TV18, "Trading shorts have started been created in TVS Motor. It has given a small breakdown on daily charts as well. I would be more inclined towards the Put options but they are not very liquid in these series. One can have a stop loss of Rs 290 and play for a targets of Rs 275." "If you look at the last few trading sessions Jet Airways has not seen significant either short covering or fresh longs. These highs is being utilised to create fresh short positions and we have seen that when that came out of with decent set of quarterly numbers, on the very same day it saw short positions getting build. It has a minor support at Rs 580-585 levels. If that is taken out, I would not be surprised if the stock goes towards Rs 550. I would recommend going long on 580 Put options for a trading target of Rs 32 and stop loss at Rs 15," he said."HPCL has seen significant long positions, volume based buying has been seen, strong buying were seen in options as well. A breakout above Rs 900 kind of levels, so if you get the stock around Rs 910-915, it makes a good case to go long on 960 Call option. The stock option can become in the money in the next few trading sessions. I would recommend going long for target of Rs 30 and one can have a stop loss of Rs 14.""After a long consolidation or say couple of weeks consolidation, we have seen rollovers numbers also decent for UPL, swing high has also been made. The likelyhood of a Rs 620 is quite there and that is a reason I would recommend going long on UPL 620 Call option, targets would be Rs 30 and one can have a stop loss of Rs 17."