One has to be very stock specific at current levels rather being positive/negative on the index front. The long term trend is positive and any dip should be considered as a good buying opportunity.
Following are the five positional calls recommended by Karvy Stock Broking House:
SINTEX: The stock witnessed fresh addition of long positions in the last session. The stock added 7.51% in open interest along with an increase in cost of carry from 12.40% to 15.48%. Long positions can be assumed in the stock at 179-180 levels for targets of 186 and 190 levels with a stop loss placed below175 (Spot) levels.
IDBI: The stock witnessed fresh addition of long positions in the last session. The stock added 13.66% in open interest along with a decrease in cost of carry from 5% to 0%. Long positions can be assumed in the stock at 134-135 levels for targets of 140 and 144 levels with a stop loss placed at 131 (Spot) levels.
RANBAXY: The stock witnessed fresh addition of long positions in the last session. The stock added 3.56% in open interest. The cost of carry decreased from 2.03% to -3.56%. Long positions can be assumed in the stock above 480 levels for targets of 490 and 505 levels with a stop loss placed at 470 (Spot) levels.
IDBI 140 CE: IDBI 140-strike May call option saw addition of long positions in the last trading session. The option added 12,000 shares in open interest. Long positions can be assumed in the option at Rs 2-2.25 with a stop loss placed at 131 (spot) for targets of Rs 6-7.
RANBAXY 480 CE: Ranbaxy 480-strike May call option saw addition of long positions in the last session. The option added 38,500 shares in open interest. Long positions can be assumed in the option at Rs 12-13 with a stop loss placed at 470 (spot) for targets of Rs 28-30.
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