Buy JSPL, says Krish Subramanyam

Krish Subramanyam of Altamount Capital told CNBC-TV18, "Metals have seen good rally this week and we feel that today we are seeing some sort of profit taking but going by the Put writing that we are seeing at lower levels even for that matter in Jindal Steel & Power (JSPL), we are recommending covered call strategy wherein one could buy JSPL for a possible target of Rs 95 and also correspondingly 95 strike call that is quoting around Rs 1.50 and giving a modest target of Rs 96. One could possibly keep a stop loss of Rs 88."At 13:09 hrs Jindal Steel & Power was quoting at Rs 90.35, down Rs 1.80, or 1.95 percent. It has touched an intraday high of Rs 91.55 and an intraday low of Rs 89.20.