Amit Gupta of ICICIdirect told CNBC-TV18, "In IDFC I am buying a Call option, we can buy Rs 165 Call option, this series; it is going to expire almost near the month end. The market is really choppy, so in that particular scenario buying some call options buying out of the money call options which are available at a lower price may be a good strategy this month."
"IDFC which has been an outperformer, outperformer in the sense in the last three or four weeks if you observe the stock has not fallen much and Nifty is still 200-250 points lower than the last high of 8,630. However, IDFC has again comeback closer to Rs 165 where it made a high recently," he said.
"On the lower side when we look at the support, 160 Put in this particular run-up has become the highest Put option. So there is a possibility that the stock may find support around Rs 160 eventually. One should buy the 165 Call option during this process and then towards the month end it is possible that it may give some surge and possibly Rs 4-5 also can be expected on the higher side in this premium."
Disclosure: Analyst does not have any personal position but would have recommended to his clients.
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