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 Reliance Industries, ICICI Bank, ITC, United Spirits.

Speaking about individual stocks, Sharma said, “Reliance Industries will have to go up to take the markets higher. We saw some mild positions being built, 2 percent addition, 1 percent open interest, 1 percent the price went up. I am buying the 1,240 Call here at Rs 37, stop loss at Rs 28 and target of around Rs 55.”

“ICICI Bank I am buying the 360 Call at Rs 7.25, stop loss at Rs 5 and target of around Rs 12. ITC you can buy and hold. The downward risk is pretty low, so this one stock which has not moved up and therefore is ripe to move up. I am buying 280 Call at Rs 5.20, stop loss at Rs 3.50, and target of around Rs 9,” he added.

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