Shubham Agarwal, CEO at Qapp Securities told CNBC-TV18, "We do see that most of the midcap banks are under selling pressure, and we feel that should continue. So, with that view Allahabad Bank should see some more downside in the coming weeks. Recommendation would be to buy 47.5 Put at Rs 1.35, the second leg would be to buy 50 Put at Rs 2, and to fund this we recommend to sell 52.5 Put option at Rs 2.7."
"We have a very minimum outflow in the strategy and the overall profit remains open. So, the profit expectation would be Rs 26,000 in the strategy level and a stop loss has to be maintained at Rs 9,000."
"Indiabulls Housing Finance is a very simple stock, we have to just go and buy a Put of 1280 strike at Rs 37. The target would be Rs 55 and the stop loss has to be maintained at Rs 28," he said.
