Sell Arvind futures, 270 Put; buy Apollo Tyres: Subramanyam

Krish Subramanyam of Altamount Capital told CNBC-TV18, "In today's session, we have seen some pretty strong short built up in Arvind. Last time also it was almost up to 14 percent. So, some sort of pressure is building up in the counter and probably could be heading higher. But we are recommending some sort of covered Put strategy wherein one could sell the Arvind Futures, that is around Rs 286, but also sell a 270 strike Put that is quoting at around Rs 5. We are keeping a target of Rs 275 and a stop loss of Rs 292.""One can sell Dish TV. The counter has actually seen some pretty aggressive shorts in the last few days and it has also breached certain levels. It is also a modest bounce back in the last couple of days, but it looks like it might give up some of those gains again. So, a modest downside could be expected, because it has lost quite substantially. So, a modest downside could be expected. We are keeping a target of around Rs 72 and a stop loss of 77," he said. "The last stock is a buy on Apollo Tyres which has seen some very good rallies in the last few days. So, one could possibly do sort of a covered Call strategy wherein one could buy Futures at Rs 155 and slso sell 155 strike Call at around Rs 5 keeping a modest target of Rs 162 and a stop loss of Rs 151."