Buy Tata Steel 350 call, says VK Sharma

VK Sharma of HDFC Securities told CNBC-TV18, "I will be recommending buying Tata Steel. Although positions were not built yesterday, but the stock went up by three percent. For the series per se, we have eight percent rise seen in terms of open interest. The stock has gone up by 5 percent in this series. This is a long series, so I would not want investors to participate through the futures which I never do, in none of my recommendations.""So, I am just recommending that one can buy the 350 Call at around Rs 10 with a stop loss at Rs 7 and a target of around Rs 18. Earlier I had suggested a bull spread, but it is better to keep the options open for a higher amount and therefore doing with a stop loss, this is a call that we can take," he said.