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Amit Gupta on January 2: Buy Bharti Airtel & Bajaj Auto

Updated : January 02, 2019 09:18 AM IST

The latest analysis and commentary by stock market guru Amit Gupta, head-derivatives at ICICI Direct on what is moving the markets today.

He shared his views and readings on Bharti Airtel and Bajaj Auto.

Talking about stocks, he said, “From the Nifty stocks we are picking 2 stocks. One is Bharti Airtel and second is Bajaj Auto and both of them are on the long side.”

“Most of the negatives are prices in and Bharti Airtel is ready to move towards Rs 338 or Rs 340 levels now. So one can buy this stock,” he added.

“Recently Bajaj Auto had a fall from 2,900 to 2,700 but 2,700 around is a very good level because it has consolidated below this level for the entire October-November series and in December it took out this level. So it has spent a lot of time here and implied volatility has come down, so it’s a good sign for long traders, they can buy at relatively lower premium which is around Rs 50-55, if one is looking for 2,800 call. Therefore, buy this, hold; this is a long series where I do not think that kind of premium decline even if the stock is consolidating here for some more time. So as the market gets more stable, this stock will start participating,” he further added.

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
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