Buy M&M Fin 260 Call, advises VK Sharma

VK Sharma of HDFC Securities told CNBC-TV18, "Mahindra & Mahindra Financial Services from the high of Rs 330 is now available at Rs 260. A lot of pain is out of the system, it appears so, the last four days trading has shown."

"I am suggesting buying 260 Call around Rs 10, stoploss at Rs 7 and hope to sell it around Rs 16. Yesterday, although open interest was reduced to the extent of 8 percent, now the shorts are beginning to close and that is what it looks like," he said.