Sell Tata Steel on rise, says Siddharth Bhamre

Siddharth Bhamre of Angel Broking told CNBC-TV18, "Hindalco Industries is a good buy or is in accumulation zone between Rs 135-140 odd level. So, probably it may not correct significantly from current level but may not go up either. So, around Rs 138-140 you buy and you sell 150 Call option for February Series."

"February Series is a smaller series in terms of duration and IVs are high at this point of time, so time value decay would be faster. So, for Tata Steel I would sell on rise and for Hindalco I would play covered call," he said.