Trade bull spread in Tata Communications; bearish on Bajaj Auto: Krish Subramanyam

Krish Subramanyam, Co-Head Equity Advisor at Altamount Capital told CNBC-TV18, "I have a bull spread in Tata Communications. There seems some decent rise in the last three to four days. It could be heading upwards. Buy 740 strike Call and sell 800 strike Call, so, the net cost comes to about Rs 19. We are keeping a target of Rs 33. One could keep a stop loss of Rs 10."

"A bearish call on Bajaj Auto. Now that is very close to breaking some good support levels. So probably one could sell the futures but we are also recommending selling of 2,800 strike Put which will give some sort of a cushion in the eventuality of it going again. We are keeping a modest target of Rs 2,750 and probably one could keep a stop loss of Rs 2,860," he added.

"All the pharmaceutical counters have seen some sort of sell at every rise and Lupin has been no exception. After breaching Rs 1,200 which was a very critical support level, it has tumbled to levels of close to Rs 1,100. So, odds are high that probably whatever the severity of the news, the nearest support level comes somewhere around Rs 1,025-1,050. Now, these are levels which have been visited from almost a few years back. So, odds are high that probably we will see those levels being touched sooner than later," he said.