Watch the interview of Krish Subramanium at 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.
Punjab National Bank (PNB) in the last three four days has seen some decent amount of Put writing emerging near levels of Rs 1,080. So we feel some intermediate support could be there.
We are recommending a bull spread. One could buy 1,100 strike Call at around Rs 38 and correspondingly sell 1,160 Call at around Rs 13. So, the net cost comes to about Rs 25 and one could keep a target of Rs 45 and may be a stoploss of Rs 15.
In ICICI Bank, we feel that above levels of Rs 350 we could see some selling pressure. This is a December strategy; one could possibly buy 345 strike Put at around Rs 5 and sell 335 strike Put at around Rs 1.70, so the net cost come to about Rs 3 -3.50. One could keep a target of Rs 8 and may be a stoploss of Rs 1.80.
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