Buy Bajaj Auto 2050 Put: Krish Subramanyam

Krish Subramanyam of Asit C Mehta Investment told CNBC-TV18, "Post the results we are seeing some sort of short built up in Bajaj Auto and considering the fact that it is also close to breaching some critical levels, so we are recommending buying of plain vanilla Put. One could go and buy 2050 strike Put at may be Rs 22-23 and for possible target of Rs 40. One could keep a stoploss of Rs 10 on the downside for any eventuality."

At 13:41 hrs Bajaj Auto was quoting at Rs 2,081, down Rs 1.60, or 0.08 percent. It has touched an intraday high of Rs 2,098.70 and an intraday low of Rs 2,045. The share touched its 52-week high Rs 2,228.95 and 52-week low Rs 1,704.95 on 03 January, 2013 and 04 April, 2013, respectively. Currently, it is trading 6.64 percent below its 52-week high and 22.06 percent above its 52-week low. Market capitalisation stands at Rs 60,217.28 crore. Disclosure: It is safe to assume that we have recommended this strategy to our clients at large.