Mar 19, 2012, 02.41 PM | Source: CNBC-TV18
One can short DLF at this level, says Kunal Bothra, LKP.
Kunal Bothra (more)
Head of Advisory, LKP | Capital Expertise: Equity - Technical
Bothra told CNBC-TV18, "I have a couple of shorts at this point. Something like DLF which looks very good in terms of shorting up opportunity, trading at Rs 192-193 levels on cash. I think it’s a good level to go short, you look at the long probably medium term perspective of the stock also and the kind of damage it has seen in the last one month I think its going to continue because the dominant weakness in the market now you will see levels of close to Rs 180 on DLF and that’s what my level is keeping a stop loss of close to Rs 200 on DLF.”
He further added, “Some of the other stocks which look weak and have just given a break down on my technical indicators is something like a Reliance Capital and Reliance Infra . I think both these stocks have just triggered downside and if the weakness continues one can enter into its shorts in these two categories with a target of close to 5-7%.”