Buy Titan Company August futures, advises TS Harihar

TS Harihar of HRBV Client Solutions told CNBC-TV18, "We are betting on a turnaround in gold prices in the festival season and Titan Company is going to be the obvious beneficiary. With Titan very close to it's one year low, we have a protective Put strategy on the stock.""We are recommending is to buy Titan August Futures at Rs 343 and simultaneously hedge it by buying 330 Call option at Rs 6. So, you would be profitable on the upside above Rs 349 and your maximum loss in the strategy would be Rs 19. So, effectively we are betting on a turnaround in gold demand in the festival season starting August onwards," he said.

Disclosure: Neither the analyst nor his company has an exposure to the stock.