Buy Petronet LNG Futures, Jet Airways: Gaurav Bissa

Gaurav Bissa, Derivatives Analyst at LKP Securities told CNBC-TV18, "My first recommendation would be buy on Petronet LNG Futures. We have seen consistent long positions getting built. Petronet has a strong support at Rs 392-395 zones. It is trading above those levels. One can have a stop loss of Rs 392 and play for target of Rs 410." "Second would be buy on Jet Airways 460 Call option. We have seen a significant buying with good amount of long rollovers. The level of Rs 440 is the immediate hurdle, above that move till Rs 455 cannot be ruled out. One can buy 460 Call option with a stop loss at Rs 9 and play for target of Rs 18," he said. "Final recommendation would be buy on Tata Steel 480 Put option. We have seen unwinding happening, some sort of selling is also seen at 490 and 500 Call option. The level of Rs 485 is the immediate support level, it is trading below these levels. It can test levels of Rs 472-475 in next two to three days. On that premise, one can go long on 480 Put option and have a stop loss of Rs 7.5 and play for target of Rs 15."