VK Sharma of HDFC Securities told CNBC-TV18, "I am buying HCL Technologies and Oracle Financial Services Software only if they are available at a price lower than what they were yesterday. So I presume that it will be difficult for the market to build beyond the initial gains. So I am buying only one stock, Tata Consultancy Services (TCS), because there is almost 6 percent reduction in open interest and the stock did well, rising 3 percent and in fact it lead the Nifty. So, I am buying the 2,550 Call at around Rs 60, stop loss at Rs 45 and target of around Rs 90."
"In HCL Tech although positions were build on the longer side and also the price went up. I want to buy in the IT space, slightly lower because I believe that IT space will still act as a strong shelter, should the Nifty not be able to build on the initial gains. So in HCL Tech, I am suggesting 920 Call at around Rs 25 which closed at Rs 30 yesterday, stop loss at Rs 80 and hope to close at around Rs 40," he said.
"Options are not liquid in Oracle. Yesterday it closed at Rs 3,387 in stock Futures. However, should it be available at Rs 3,350 then only buy that, keep a stop loss at Rs 3,300 with a possible target of Rs 3,450."
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