Buy Infosys 2000 put, sell 1850 put: Subramanium

Krish Subramanium of Asit C Mehta Investment Interrmediates told CNBC-TV18, "For the January series we saw some pretty sluggish rolls almost in all the IT counters and Infosys was also one of them. We have also seen some pretty aggressive call writing in the 2,000-2,100 strikes etc. So, we feel that the upside might be capped for the near term at around 2,000 so we feel that a bear spread would be an ideal strategy."

He further added, "One could possibly buy a 2,000 strike put at around Rs 88 and correspondingly sell an 1,850 strike put that is quoting at about Rs 30. So the net cost comes to about Rs 58, one could keep a target of Rs 120 and possibly a stop loss of Rs 30."