Buy Aurobindo Pharma 1250 Put, says Rahul Shah

Rahul Shah of Motilal Oswal Securities told CNBC-TV18, "We have seen some longs unwinding and positions getting cleared as well as the shorts getting created in most of the pharmaceutical stocks and even in Aurobindo Pharma we have seen some decent short addition today, so buying 1250 Put in Aurobindo which is trading around Rs 31-32 with a stoploss of Rs 25 with a target of Rs 45."

At 13:42 hrs Aurobindo Pharma was quoting at Rs 1,287.20, down Rs 24.55, or 1.87 percent.

Disclosure: Analyst doesn't hold the above stock but he has recommended to his clients.