Go long in Voltas 300 Call, says Gaurav Bissa

Gaurav Bissa of LKP Securities told CNBC-TV18, "Voltas has been in an uptrend and after correction it witnessed decent amount of jump on account of short covering which gave it a push to come out of its inertia which was followed by decent amount of long positions for couple of trading sessions indicating that the buying interest is still quite evident out of the money options."

"Call options precisely were active. Today it witnessed couple of percentage points of dip giving indication that it can be a good entry level to go long into. Therefore, I recommend going long on 300 Call for target of Rs 8 keeping the stop loss at Rs 2," he said.

Disclosure: Analyst has no personal holdings in the stock or strategies but it is possible that he may have recommended them to his clients at LKP.