Buy DLF 140 Put, says Chandan Taparia

Chandan Taparia, derivative & technical analyst at Anand Rathi Securities told CNBC-TV18, "DLF has been finding sustained pressure near to Rs 155-160 zone. We have seen fresh Call writing at the 150-160 strike which is indicating that the stock is under the bear grave."

"We are expecting DLF to go down towards Rs 135-132 but looking at the recent price formation we are suggesting to buy 140 Put which is trading near to Rs 5. Keep the stop loss of Rs 2 and trade for the target of Rs 10," he added.