Buy Tata Global Beverage 150 Call, ITC may test Rs 320: Krish Subramanyam

Krish Subramanyam of Altamount Capital told CNBC-TV18, "We have a buy on Tata Global Beverage 150 strike Call. It has seen some good momentum, it has recovered from some very strong support levels yesterday. 150 strike Call is quoting at around Rs 3.50, one could keep a target of Rs 6-7 and maybe a stop loss of Rs 1.50."

"We have a protective Put strategy on MRPL. The stock has seen some pretty decent built up on the long side but yesterday of course we saw some long unwinding. However, my sense is that going into expiry, we could see some more uptrend. However, going by the volatility that the stock has exhibited, one could possibly also buy 135 strike Put that is quoting at around Rs 2-2.50 along with the futures. One could buy the futures and also buy a Put. We are giving a target of Rs 144 and maybe one could keep a stop loss of Rs 132," he said.

"In ITC, broadly the bias seems to be on the long side. It has seen some very decent consolidation closer to levels of Rs 260-270 and I think we could see stock inching up upwards. We are also seeing some pretty decent delivery volumes coming about in the counter. So I think in near term, the momentum is still very much on. I think Rs 315-320 could be well on cards in the counter," he said.