Buy Indiabulls Housing Finance, target Rs 975: Krish Subramanyam

Krish Subramanyam of Altamount Capital told CNBC-TV18, "A bearish call on Tata Motors which has seen some shorts building up and going into expiry, it could see some sluggish moves on the downside. So, one could possibly buy 480 strike Put that is quoting at around Rs 12. Also, sell a 460 strike Put that is quoting around Rs 3. So, the net cost comes to about Rs 9, keeping a target of Rs 16 and a stop loss of Rs 5."

"The last one is a buy call on Indiabulls Housing Finance. This has been a stellar performer, but seen some correction in the last few days. Today again it seems to be getting back into positive momentum. The stock can be bought for a possible target of Rs 975 and one could keep a stop loss of Rs 940," he added.