Sell Hindalco 140 Put: Amit Trivedi

Amit Trivedi of investworks.in told CNBC-TV18, "If you look at metals, Hindalco Industries has been quite outperforming compared to Tata Steel or Steel Authority of India Limited (SAIL). After this at least short covering rally that we are seeing, it should remain anywhere between around Rs 150 on the lower side to Rs 165 on the upper side."

"So, we are suggesting just from this expiry series perspective, sell 140 strike Puts of Hindalco. What is happening is because of the movements that we had in the last few days, implied volatilities are quite high at around 47 percent, hence even the 140 Put is available at close to around 0.45 paisa," he said.

Disclosure: Analyst might have suggested trades in the stocks or some of the strategies that he might have discussed.