Short Bank Nifty, says Prakash Diwan

Short Bank Nifty, says Prakash Diwan of Asit C Mehta Investment.

Diwan told CNBC-TV18, "Given the volatility in the market, I would also like to add some short calls. It sounds like a contra call given the expectations that interest rate hike will be within manageable, expected and accepted levels of 25 bps. But incase things turnout otherwise, I would expect the Bank Nifty to remain under pressure and lose some ground. So taking advantage of that the short call has a target price of 9370."