Buy ONGC 390 Put, says Krish Subramanium

Krish Subramanium of Asit C Mehta Investment Intermediattes told CNBC-TV18, "Oil and Natural Gas Corporation (ONGC) is still got to do some catching up in terms of roles for the November series. We are recommending buying of a 390 strike Put that’s about October for a price of Rs 4. We are keeping the target of Rs 10 and possibly one could keep a stoploss of Re 1.”

At 15:24 hrs Oil and Natural Gas Corporation was quoting at Rs 392.00, down Rs 2.75, or 0.70 percent.

The share touched its 52-week high Rs 472 and 52-week low Rs 263.30 on 09 June, 2014 and 13 November, 2013, respectively.