Buy Just Dial, Canara Bank, Indian Oil Corporation: Gaurav Bissa

Gaurav Bissa of LKP Securities told CNBC-TV18, "My first recommendation would be buy on Just Dial Futures. The stock has seen lot of short positions, the exhaustion of short position is clearly there, one can pre-empt some of short covering and once the short covering starts it would be at least in the tune of 7-8 percent being reflected in the stock price. With a stop loss of Rs 595, one can go long in July Futures for target of Rs 650, which we felt can lead to a push towards Rs 650 levels in a short span of time.""Second recommendation would be buy on Canara Bank July series 230 strike Call option. We have seen lot of long position getting built. Rollovers are positive, lot of buying is seeing in options and it has given a breakout of Rs 215-216 kind of levels. It can test close to Rs 235 in July series. One can have a stop loss of Rs 2 and go long in 230 Call option for target of Rs 8," he said."Final recommendation would be buy on Indian Oil Corporation (IOC) July series 450 Call option with a good amount of long positions and good amount of long hold. We have seen that lot of OMCs whether it is BPCL or HPCL, they are making new highs and strong momentum is there, strong rollovers are there. So similar is the case with IOC. The option can touch the levels of Rs 20 and one can have a small stop loss of Rs 7 and go long with the option."