Buy Idea Cellular 85 Call, Sun Pharma July futures: Krish Subramanyam

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.