Buy SBI 1650 call, Sell 1800 call: Krish Subramanyam

Krish Subramanyam of Asit C Mehta Investment told CNBC-TV18, "We have seen some very good support emerging around Rs 1450-1500 levels in State bank of India (SBI) and we have seen some consistent short covering. Last week also we saw close to about 17 percent short covering in the stock. So, we are heading towards levels of Rs 1750-1800."

"So, we are recommending a bulls spread and therefore we are recommending buying of a 1650 strike call at around Rs 57 and correspondingly sell 1800 strike call at around Rs 12. So the rate cost comes to about Rs 45. One could keep a target of Rs 100 and maybe keep a stoploss of Rs 25," he said.

Disclosure: Analyst has recommended or discussed the strategies with his clients at large.