Buy Sterlite Industries 100 Put at Rs 3, says VK Sharma

Buy Sterlite Industries 100 Put at Rs 3, says VK Sharma, HDFC Securities.

Sharma told CNBC-TV18, “I have bearish call on Sterlite Industries and Hindalco, but they are not for the traders. Traders need not sell or trade on the short side in the current market.”
He further added, “These are essentially for those investors who hold these stocks and they can use to by the puts as far as this is concerned to protect their portfolio. So in case of Sterlite buying the 100 put which is available at around Rs 3 might be a good idea and one can keep a stop loss of Rs 1 and hold portfolio and similarly for Hindalco the 120 put was available at Rs 1.9. So one can buy this put and hold on to stocks and need not sell but traders need not go short in the morning.”