Krish Subramanyam of Altamount Capital told CNBC-TV18, "The telecom stocks seem to be holding on. So, Idea Cellular which has seen some pretty good Put writing in the range of 80-85 strike, we could possibly buy an 85 strike Call that is quoting at around Rs 4 for a possible target of Rs 8 and keep a stop loss of Rs 2."
"Sun Pharmaceutical Industries which has also seen some pretty consistent Put writing in the strikes of below 550, etc., I think one could do some sort of a protective Put buying because this has been a weakish counter. Buy the July futures but also simultaneously buy 560 strike Put that is quoting at around Rs 4. We are keeping a target of Rs 595 and maybe one could put a stop loss of Rs 558," he added.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
