Buy Reliance Infra 600 Put, Ashok Leyland: Rahul Shah

Rahul Shah of Motilal Oswal told CNBC-TV18, "I have been advising to buy Reliance Infrastructure Put. I feel that the stock is into overbought situation and we have seen some longs getting shed today also. So, I would buy 600 Put seeing the volatility in the stock which is trading around Rs 25-26. Buy with a stop loss of Rs 18 and target of Rs 40.""Ashok Leyland has also done quite well post auto numbers. The stock has seen good amount of longs built up. So, I feel it can go to Rs 98. So buy Ashok Leyland with a stop loss of Rs 92 for a target of Rs 98," he added. "Pidilite Industries has done very well in last few sessions. So, I think again this can outperform in such market. So I would buy Pidilite with a stop loss of Rs 555 for a target of Rs 600."