Buy L&T 1480 Put, says Krish Subramanyam

Krish Subramanyam of Altamount Capital told CNBC-TV18, "I have bearish call on Larsen and Toubro (L&T) which has shown some sort of weakness, long unwinding and also some shorts piling in. So, going into expiry, one could buy a 1480 Strike Put that is quoting at around Rs 13-14 keeping a target of Rs 26 and maybe one could keep a stoploss of Rs 8.""The second one is a bull spread on Gail which has seen some good momentum -- of course today it is showing some signs of weakness. However, one could possibly latch on to the broader up trend and one could possibly buy a 500 Strike Call that is quoting at around Rs 6.50. However, also sell a 520 Strike Call that is quoting at around Rs 2. So, the cost comes to about Rs 4.50. One could keep a target of Rs 11 and stoploss of Rs 2," he added.