Go long in Mahindra & Mahindra 1400 Call: Gaurav Bissa

Gaurav Bissa of LKP Securities told CNBC-TV18, "Mahindra & Mahindra is a very interesting stock. It has been trading in a narrow range. The stock had seen a good amount of breakout with a decent considerable long positions and these positions are still in the system. There was some amount of profit booking, having said that the rollovers have been decent and fresh longs are expected to be build once it crosses Rs 1,340 odd levels. That has been the resistance level for the stock in couple of occasions.""I feel going ahead it can test levels of Rs 1,440-1,450 in August series. So I recommend going long in 1,400 Call option for a target of Rs 35 and keeping a stop loss at Rs 12," he said.Disclosure: Analyst has no personal holdings in the stock and strategies but it is possible that I may have recommend the same to our clients at LKP.