Buy IDFC Dec futures, 60 Put, advises Krish Subramanyam

Krish Subramanyam, Co Head-Equity Advisory at Altamount Capital told CNBC-TV18, "The metal pack has not exactly in the best of form but NMDC stands out in terms of rolls and seems to be heading upwards. So we are giving a covered Call strategy. One would buy December future and sell 135 Strike Call that is quoting at around Rs 4 keeping a modest target of Rs 138 and a stop loss of Rs 127."

"Second idea is a protective Put strategy in IDFC which has also seen some very good rolls though it has been a broad underperformer but a modest up trend could be seen. One could buy December Futures but also hedge by buying at 60 Strike Put at around Re 0.85 keeping a target of Rs 67 and maybe one could keep a stop loss of Rs 60," he said.