Buy IndusInd Bank 1180 Call, sell 1220 Call: Krish Subramanyam

Krish Subramanyam of Altamount Capital told CNBC-TV18, "We are going with couple of banking counters. Karnataka Bank which has been a firm favourite in the pack is nudging Rs 154-156. One could do a protective Put strategy given the expected volatility. So, one could possibly buy September Futures and also hedge by buying a 150 strike Put that is quoting at around Rs 1.40. We are keeping a modest target of Rs 162 and one could keep a stop loss of Rs 148." "Second one is IndusInd Bank. It is not in great form today but yesterday it did spike up. However, today we are seeing more of a small correction. So, probably that could be bought. We are recommending a bull spread, so one could buy 1,180 strike Call that is quoting at around Rs 29 and sell at 1,220 strike Call that is quoting at around Rs 12. So, net cost comes to about Rs 17. We are keeping a target of Rs 34 and maybe one could keep a stop loss of Rs 10," he said."The last one is a non-F&O stock - Lakshmi Energy and Foods which has been showing some very strong momentum in last few weeks. So, we could possibly buy this for a possible target of Rs 53 and we recommend a stop loss of Rs 46."