Feb 24, 2012, 01.04 PM IST | Source: CNBC-TV18

Short BHEL, ONGC: Jitender Kumar

Short BHEL and ONGC, says Jitender Kumar, CMT, SBICap Securities.

Short BHEL and ONGC , says Jitender Kumar, CMT, SBICap Securities.

Kumar told CNBC-TV18, “I would short Coal India . Coal India is one of the stock, which I have been shorting for the last two series and this series also. The stock is down 6% for expiry, last expiry and the data shows that there is a good OI addition also. Coal India is my top pick.”

He further added, “Second pick is BHEL and ONGC. Both of the stocks rallied a bit but the further downside trigger would be the FPO hangover. Since this stock has rallied and last 3-4 days I am seeing good profit booking by the longs happening and longs were not aggressive in the last two days of expiry so BHEL and ONGC are the two stocks I would like to short.”

Set email alert for
BHEL ONGC Coal India


video of the day

Tepid Q4 shows market frail on valuations: Kotaks Prasad

Explore Moneycontrol

Copyright © Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of is prohibited.