The latest analysis and commentary by stock market guru VK Sharma of HDFC Securities on what is moving the markets today.
He also spoke at length on Dabur, Divi's Laboratories, Eicher Motors, & ITC.
“ITC had given a very clear breakout on Friday, volume was high and clearly 306 is a clause that the market will take with both hands. So therefore since it has risen quite fast I am going to do just a bull spread here. I am buying the 310 Call at 3.75 and I will sell the 320 Call at 1.05 so my cost will come to Rs 2.70 and my maximum profit is Rs 7.30. So the risk reward ratio is very much in the favour of the buyers so you should construct a long bull spread here. Dabur is something which we believe has begun to make a comeback so in the overall series though the stock has gone down by 1 percent the open interest has been added as 21 percent. On Friday the price action was on the higher side. I am buying the 410 Call on Dabur at Rs 8.50 stop loss at Rs 6 and target of around Rs 14.”Disclaimer
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