Buy Tata Consultancy Services 2300 Put, Hindalco Industries 180 Put: VK Sharma

Head of Business - Private Client Group at HDFC Securities told CNBC-TV18, "Hindalco Industries and Tata Consultancy Services (TCS) are on the shorter side. So, investors need to protect this. If you were to look at TCS, the stock has almost added open interest (OI) by 6 percent. It is down 3 percent and more importantly in the series, the OI lost has been around 5 percent although the price is up 1 percent. So, I would believe that this is a sector which is going to see investors getting out and after Infosys results, TCS expectations are not that good. So, I am buying the 2,300 Put at around Rs 32, stop loss at Rs 24 with a target of around Rs 45."

"In Hindalco, I am buying the 180 Put at Rs 3.5, stop loss at Rs 2.5 with a target of around Rs 6.5," he added.