Coal India may test Rs 315, NCC Rs 4.50: JK Jain

JK Jain of Karvy Stock Broking told CNBC-TV18, "One can take a position in Coal India. This stock has been consolidating and underperformed quite a bit but if you look at the rollovers happening in this stock, it is indicating that in the next series we could see outperformance in the stock. One can take a position in Coal India with a stop loss of Rs 285 for upside target of Rs 315.""NCC has given a breakout in today's trade. We have seen a position that is getting built on the long side. We expect further short covering likely to take place in this stock by tomorrow. We recommend to take a Call option, buy at the money call option, there is 80 call option close to around Rs 1.25-1.50. We could see the stock heading towards Rs 4-4.50 level in tomorrow's session. The stop loss would be Rs 0," he said."In Arvind, we recommend to buy May futures. This stock has underperformed but offlate in the last couple of trading sessions, this stock has seen a good move. There were quite a bit of short positions that are built in this stock. We could see further short covering in this stock and also we could see this momentum to continue in the May series. One can take a long position in April at Rs 290 with a stop loss placed below Rs 282, immediate target is Rs 310. The stock has a potential to move towards Rs 325-330."