Positive on TVS Motor, Ashok Leyland; buy Arvind: Taparia

Chandan Taparia of Anand Rathi Securities told CNBC-TV18, "I have positive view on TVS Motor Company and Ashok Leyland. TVS Motor is continuously moving up from last 3-4 weeks and taking support near to its supplied trendline. We have seen buying interest in the counter with rise in volume. Holding above Rs 250 may take it to even Rs 265-270 levels. So, overall there is positive sense in the counter, but better to trade with the option. Buy 250 Call trading near to Rs 6, keep the stop loss of Rs 3. If this stock move on higher side then this Call can move towards Rs 11." "I have buy on Arvind. I am recommending to go for covered Call strategy. Overall this stock has come out from its consolidation phase and managed to cross its multiple hurdle of Rs 292 zone. I recommending to go for covered Call in that, buy future near to Rs 292 and sell 300 Call. Break-even comes near to Rs 286, keep the stop loss of Rs 278. We get risk reward ratio of almost 1:2. Risk is around 8,000 points and if stock moves, we will get profit of around Rs 14,000 in this strategy," he said.