Buy NTPC 175 Call, advises Amit Gupta

Amit Gupta of ICICIdirect told CNBC-TV18, "We are buying NTPC 175 Call option because we believe it is finally coming out of a long consolidation. If you see from this particular series, there was almost one year high volume in the stock and when in 2016 we saw such kind of volumes, the stock had seen more than 10 percent of move and these volumes have come closer to Rs 172-174 levels. It is not too far from those levels yet. So, it is likely to hit Rs 190 in the coming days, so, at least from this series' perspective also because we are not seeing any major weakness in this consolidating market. So, we are buying the Call options only because they are still very cheap and because it is available around Rs 3 of premium. So, we are buying for a target of Rs 8 for this particular series."

"Another recommendation for the option traders is writing the Call option on Zee Entertainment because there is heavy Call writing what we are observing in this stock. Starting from Rs 340 to Rs 320 levels we have seen that there is good Call writing happening. If you look at the future segment, almost 12 percent of addition was seen on the short side. So our belief is it will remain subdued at least for few more sessions and that is why if somebody can start writing the Call options of this particular stock, I think it may be more beneficiary," he  said.