Krish Subramanium of Asit C Mehta Investment told CNBC-TV18, "State Bank of India (SBI) could be heading for some volatility this week. The results are around the corner and it looks pretty oversold on the charts as well. We are seeing some sort of resilience around Rs 1,500 levels.”
He further added, “One could probably do some sort of a strangle strategy. Buy 1,500 strike put at Rs 32 and correspondingly buy 1,550 strike call at Rs 37, so total cost should come to around Rs 69. We could do this strategy for a possible target of Rs 115 and keep a stop loss of Rs 25."
Disclosure: Analyst has recommended above strategies to his clients.
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