Buy M&M 1360 Call, suggests VK Sharma

VK Sharma of HDFC Securities told CNBC-TV18, "We are gung ho in Mahindra & Mahindra on the fact that management had something good to say about the current quarter. October sales were also up and further improvement is expected. Now these sales were almost up on a one and a half year basis. So, I am suggesting to buy the 1,360 Call at around Rs 30. Yesterday it closed at around Rs 37." "We had a buy earlier on this or target has been met. We still feel that the stock can be traded further, so instead of buying the 1,360 Call at Rs 37 you wait for a dip to around Rs 30, keep a stop loss at Rs 20 with a target of around Rs 50," he said.