Jul 23, 2013, 06.14 PM IST
Gopi Suvanam of InvestWorks recommends selling DLF with a target of around Rs 150 and stop loss of around Rs 185.
Gopi Suvanam of InvestWorks told CNBC-TV18, "There are broadly three factors that are driving the market at the moment. One is momentum. Then there is liquidity, which is slightly negative. On the global front, it is positive, but on the domestic front it is negative and the third factor is the valuations, which is favourable in some sectors."
"So, I would go for sectors where the liquidity pressure and the valuations are not good. For example, real estate is one sector and I am looking to short DLF at the current levels and maybe put a target of around Rs 150 and stop loss of around Rs 185 or so. That could be a good shorting opportunity. Other stocks in the similar sector maybe Unitech which can also be looked at, but DLF is one stock, which can be easily traded in futures market. So, I think building of short positions is good at the moment in this particular counter," he said.
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