Short Hero Motocorp between Rs 1900-1960, says Anil Manghnani, Modern Shares & Stock Brokers.
Manghnani told CNBC-TV18, "Bank Nifty already achieved 9100-9200 yesterday, which is the major significant target, given that it is rallying from 7700-7800. So I think the banking names first; I have already mentioned ICICI Bank on Wednesday. You can probably look at Axis Bank , HDFC Bank , they have all run their course, and even IndusInd Bank has run its course. So many of these are at major technical resistant levels where I think you can look to short."
He further added, "The other one, I am going out and saying my call for the whole year on auto sector is very clear. Every fall you look to add Maruti and Tata Motors but vice-versa you would look to short Mahindra and Mahindra (M&M), Bajaj Auto and Hero Motocorp. Hero has rallied all the way from Rs 1700 to 1900 plus that is a short now between Rs 1900 and 1960 and even M&M has rallied from Rs 630 so Rs 700-720 range is a sell for me."
