Buy Kotak Mahindra Bank 1280 Put, advises VK Sharma

VK Sharma of HDFC Securities told CNBC-TV18, "In Kotak Mahindra Bank buy 1,280 Put at around Rs 31, stop loss at Rs 20 and target is around Rs 55."

"Punjab National Bank (PNB) has been beaten down. Yesterday it fell 4 percent with open interest still added. So I am suggesting buying 130 Put to protect portfolio of PNB, buy 130 Put at Rs 4.5, stop loss can be at Rs 3 and possibly it will generate Rs 8," he said.

"DLF has been beaten down. It continues to fall and therefore we still feel there is more legroom in this stock to fall. I am suggesting buying 105 Put at around Rs 2.75, keep stop loss at Re 1 and a possible target of Rs 6 in the current settlement."