Buy Adani Ports March futures, sell 230 Call: Krish Subramanyam

Krish Subramanyam of Altamount Capital told CNBC-TV18, "Adani Ports has been in some sort of a consolidation the last few days and we have seen some steady rights in open interest. It is also showing signs of some sort of breakout past Rs 230. So, one could possibly do a covered call strategy wherein one could by March Futures quoting at around Rs 231. Also, hedge by selling 230 strike Call at around Rs 9, keeping a modest target of Rs 238 and maybe a stop loss of Rs 224.""Hindustan Zinc has been a stellar performer among the metal pack and considering the fact that it has done so well in an otherwise beaten down sector like metals, I think it is also showing some signs of breakout above Rs 170. So, that is a clear sign that it is heading up. So, one could possibly buy the March Futures at around Rs 171 keeping a target of Rs 178 and one could keep a stop loss of Rs 168," he said.