Buy Adani Enterprises August futures, sell 145 Call: Krish Subramanyam

Krish Subramanyam of Altamount Capital told CNBC-TV18, "Stock specific, couple of covered Call strategies. The first one is Adani Enterprises. This has been moving in a very narrow band of Rs 135-142 but promises to break on the upside. So again going by the nature of the market being tentative, doing a covered Call strategy wherein one could buy August futures and sell 145 strike Call that is quoting at around Rs 4.50, keeping a target of Rs 147 and stop loss of Rs 130."

"JSW Steel has managed to show some breakout on the charts. The open interest built up is also rising. So, one could again do some sort of a covered Call strategy, buy August futures, sell 230 strike Call which is quoting at around Rs 7 and I am keeping a target of Rs 238 and stop loss of Rs 218," he said.