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VK Sharma of HDFC Securities recommends a buy on RIL, ICICI Bank, IndiGo, ITC & sell on LIC Housing

Updated : May 06, 2019 09:43 AM IST

The latest analysis and commentary by stock market guru VK Sharma of HDFC Securities on what is moving the markets today. Check out his top stock recommendations.

He spoke at length about ICICI Bank, Interglobe Aviation, ITC, LIC Housing, and Reliance Industries.

Speaking about individual stocks, Sharma recommended buying ICICI Bank, Interglobe Aviation, ITC, and Reliance Industries.

“I am buying ICICI Bank 410 Call at Rs 11. It closed on Friday at Rs 14.8 so I am buying it lower at Rs 11. I will keep a stop loss at Rs 7 and target of around Rs 20,” he said.

“Interglobe Aviation, I am buying the 1,600 Call at around Rs 60. I will keep a small stop loss of around Rs 50 and a target of around Rs 90 here,” he added.

“ITC is a major stock where I am buying the 305 Call at around 6 as compared to Rs 7.5 where it closed on Friday. I will keep a stop loss at Rs 4 and target of around Rs 11,” Sharma said.

“Reliance Industries I will continue to buy at lower levels. I am buying the 1,420 Call at Rs 40, it had closed at Rs 47 on Friday. I will keep a stop loss at Rs 30 and target of around Rs 60,” he added.

Sharma recommended to selling LIC Housing. “LIC Housing is a sell because technically as well as in terms of open interest (OI), it has not done well. It augurs for a further fall and the reduction in margins also gives you a fundamental reason to take protection,” he said.

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

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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