Short Hindalco, HDIL,Nagarjuna Const at current levels:Vora

66446 Investors following Hindalco. Share this News with them.

0

Like this story, share it with millions of investors on M3

Short Hindalco, HDIL,Nagarjuna Const at current levels:Vora

Gautam Vora, Director of ULJK securities is of the view that one can short Hindalco Industries, HDIL and Nagarjuna Constructions at current levels.

Post your opinion here

 

0

Tweet

Share on Tumblr

Excerpts from Your Stocks on CNBC-TV18 Watch the full show » ALSO READ See what other Experts & Brokerages are saying about Hindalco See messages about Hindalco Hindalco BSE | NSE 31/05/12 Are Mutual Funds betting on Hindalco? Other Stocks in this news Housing Development and Infrastructure | NCC |

Gautam Vora, Director of ULJK securities is of the view that one can short Hindalco Industries , Housing Development and Infrastructure , HDIL and Nagarjuna Construction at current levels.

Vora told CNBC-TV18, "At current level Hindalco is a good for short. It is trading at around Rs 142, below its 50 DMA, its RSI and MSCD is looking pretty weak. We have a target of about Rs 123 on the stock so that's a decent stock right now to short."

He further added, "HDIL also is a good shorting candidate; it is at about Rs 314 and has a support at about Rs 306. If it breaks then you are looking at Rs 290 levels on HDIL. Another stock that we like to short is Nagarjuna Constructions, the stock right now is trading at about Rs 157 its looking really weak and broken its 20 and 50 DMA so we think that could go down to Rs 140 and if it breaks that it could go as low as Rs 135 or so. So these are the couple of stocks that we like two on realty, one on the metals sector is pretty much to short at this point."