Sharma told CNBC-TV18, "IT stocks, way the positions were built on the shorter side yesterday the market was trying to recover gives me a sense that one could be well pleased to go into the series with puts in hand. So if you have exposure to Infosys buying the 2750 put at around Rs 72 with stop loss at Rs 60 is my suggestion and this can also be traded as a bet because if the guidance is not going to come then of course the stock is going to be hit pretty badly, otherwise also it looks bad."
He further added, " Ashok Leyland is one stock which has held up quite well in the last few sessions. It has not gone down below Rs 29. Rs 28 are a good support. So going in the fact that all the positions were cut and the stock did go down by 1% yesterday, buying the 30 call at around Rs 1.30 is my suggestion and one can keep a stop loss of Rs 0.80 in this call and one can hope to sell this at Rs 2.5 total premium. So you double your profits in this."
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