Buy ICICI Bank 760 Put: IIFL

Murlidharan told CNBC-TV18, "I will go and buy an ICICI Bank Put Option for 760 strike for the current month. I guess that is somewhere close to Rs 22-23. The stoploss we would say is Rs 18 and a good Rs 40 on that is what we are looking into that."

He further added, "SBI - you can short on the Futures. I guess Rs 1,995 is what it is trading at, Rs 2030 should be the stoploss and Rs 1920 is what we will look into that. We have been trying to play more with the weighted average price, because we had the rollovers last week. So more or less whatever roll cost we saw and the average price at which the short rolls have happened, we try to keep that as a stop loss and go with these instruments."