Watch the interview of Krish Subramanium of Asit C Mehta Inv Intermediattes with Ekta Batra & Anuj Singhal on CNBC-TV18, in which he shared his readings and outlook on market and specific stocks.
Below is the verbatim transcript of Krish Subramanium's interview with CNBC-TV18.
Dr Reddy's Laboratories has seen some pretty aggressive shorts. Some shots are getting built up in the counter. Therefore we feel that some downside could be on cards and one could possibly do a bull spread.
We are recommending buying of 3,200 strike put it around Rs 88 and correspondingly sell 3,000 strike put at around Rs 20, so the net cost comes to around Rs 68. We are keeping a target of around Rs 110 and may be a stoploss of Rs 35.
HDFC saw strong price action on Friday and of course today we are seeing some sort of cooling off but based on the derivative activities as well as the price action it has broken past strong resistance level. We feel that we could do some sort of a bull spread strategy.
One could buy 1,140 strike Call, that is quoting at around Rs 46 and sell at around 1,200 strike call which is quoting at around Rs 15. So the net cost comes to around Rs 31. One could keep a target of Rs 55 and may be a stoploss of Rs 15.
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