Buy Tata Chemicals, GAIL India; short Vedanta: Gaurav Bissa

Gaurav Bissa of LKP Securities told CNBC-TV18, "My first recommendation would be a buy on Tata Chemicals. The stock has been seeing a decent amount of long additions on a consistent basis. It is a positive sign. It is on the verge of giving a swing high. THe stock has been trading in a small range, has a strong breakout about Rs 415-418 zone which, if sustained can go towards Rs 440 also. Options are very liquid, but still some amount of buying is seen in the 420 Call option that again is a good sign for the stock. I would recommend going long on Tata Chemicals Futures for target of Rs 430. One can have a stop loss of Rs 408.""The second recommendation would be a buy on GAIL India Futures. This stock has seen strong long positions getting built towards Rs 390-395 zone. Some amount of long unwinding was seen, but there are still good amount of long positions that are getting built. If you look at the level from where these positions started getting built in an augmented manner, it was Rs 375-380. So if the stock holds on these levels, it might again re-test levels of Rs 395-400 levels above which there is a stronger breakout. I would recommend going long on GAIL for a target of Rs 395 with a small stop loss of Rs 372," he added."Final recommendation would be a sell on Vedanta Futures. This stock has been seeing consistent short positions in last few trading sessions. The 100 Call option used to have one of the highest concentration which was acting as a support. It has broken those things as well. Even the other many put options has seen incremental buying. So, Rs 98 is a crucial level. If it is trading below Rs 98, direct stop can be towards Rs 92. I would recommend going short on the stock having a stop loss of Rs 102 and play for targets of Rs 92 and below."