In an interview to CNBC-TV18, TS Harihar of ICICI Securities shared his views on the F&O market and various stocks.
Reliance Industries has target of Rs 860, says TS Harihar, ICICI Securities. In the stock you run the risk of another Rs 20-25 down from here, but if you take a three months perspective it is one stock that has gradually started seeing accumulation both on the spot and the Futures.
The November series so far has been largely rangebound and TS Harihar of ICICI Securities said he is currently looking at a range between 5530 and 5680. He expects the expiry to be somewhere around 5660 to 5680.
See 10-15% upside in Axis Bank, says TS Harihar, ICICI Securities.
Mahindra and Mahindra (M&M) has target of Rs 1000, says TS Harihar, ICICI Securities. This has shown a phenomenal movement from Rs 720 to Rs 905 as of yesterday. Today M&M is in the same position that Tata Motors was about 10 years back. It was actually in the right place at the right time.
October futures and options contracts will expire next week. In an interview to CNBC-TV18, TS Harihar, co-head institutional derivatives of ICICI Securities says it looks like the expiry could be in the range of 5,700-5,750. "I think it is very unlikely that we could see a very sharp breakout in this expiry," he adds.
M&M is a good medium term bet in auto space, says TS Harihar, ICICI Securities.