Rikesh Parikh bearish on Tata Steel, buy May 400 Put

Rikesh Parikh, Vice-President Markets Strategy and Product Development -Equities, Motilal Oswal Financial Services Ltdbearish on Tata Steel, buy May 400 Put

Parikh told CNBC-TV18, "I am taking a slightly bearish stand buying out of the money Put option in Tata Steel. One can buy 400 Put options which is trading around 8.5 or so. Till the time Tata Steel doesn't close above Rs 430 on closing basis one can keep this position open over there."