Buy Puts in BOI, Axis Bank, ICICI Bank: VK Sharma

VK Sharma of HDFC Securities told CNBC-TV18, "I am suggesting that if you are an investor, buy the Puts in Bank of India (BOI), Axis Bank and ICICI Bank to protect your portfolio. If you are a trader, then also buy Put with a stop loss. My strategy at the beginning of the trade is that you buy the 540 Put in Axis Bank at Rs 13 with stop loss at Rs 8 with a target of around Rs 25.""Similarly, you buy Bank of India 170 Put, at Rs 5, stop loss of Rs 3 and a target of Rs 10. In ICICI Bank, you buy the 300 Put at Rs 6, stop loss at Rs 4 and a target of around Rs 11. You will have to obviously tweak the rates as the market opens," he said.