Buy TV18 Broadcast, says Krish Subramanyam

Krish Subramanyam of Altamount Capital told CNBC-TV18, "Yesterday we saw some pretty aggressive open interest build on the long side in TV18 Broadcast closer to almost 20 percent and today also there has been some follow up action on the counter. It has shown a very good breakout on the charts and has been a steady mover. We feel that consolidation above these levels of Rs 35 could see the stock rtight up to Rs 39. We recommend buying TV18 Broadcast and possibly one could keep a stop loss of Rs 33.50." "The second stock is Indiabulls Real Estate, a classic case where we have seen a very good breakout with very strong open interest build up. The fact that we have seen some profit taking place, we are giving a covered Call strategy wherein one could possibly by Indiabulls future that is around Rs 69 and correspondingly sell a 70 strike Call that is quoting at around Rs 4. We are keeping a target of Rs 75 and one could keep a stop loss of Rs 65," he said. Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com.