Buy M&M Financial, LIC Housing; sell Just Dial: Bissa

Gaurav Bissa of LKP Securities told CNBC-TV18, "The first recommendation would be a buy on M&M Financial Services. We have seen good amount of long positions coming in, good amount of long rolls were seem getting built and a lot of option activity has been there in the name. It has given a breakout again today, so with a stop loss of Rs 355 one can go long in M&M Financial futures for target of Rs 375.""Second recommendation would be buy on LIC Housing Finance Futures. This is looking very strong and a lot of long position is seen getting built in. Within last two trading sessions, there have been lot of volume based buying also, 520 Call option, 530 Call option and 540 Call option - all of these have seen significant buying. Everything augurs well for the stock. One can have a stop loss of Rs 518 and go long for target of Rs 550," he said."Third recommendation would be buy on Asian Paints futures. We have seen good amount of long positions coming in; Rs 1,030 is the level from where we are seeing some amount of resistance coming in, but the kind of positions that are seen getting built, there is a chance that it may breakout and if it sustains Rs 1,030, Rs 1,080-1,090 cannot be ruled out. So, with a stop loss of Rs 1,015, one can buy for targets of Rs 1,075.""Final recommendation would be sell on Just Dial futures. We have seen good amount of unwinding, fresh shorts are seen getting built. It is on the verge of giving a breakdown. So, with a stop loss of Rs 605 one can sell for targets of Rs 540," he added.