Watch the interview of Mithil Pradhan of Violet Arc Global Managers with Ekta Batra and Anuj Singhal on CNBC-TV18, in which he shared his readings and outlook on Futures and Options (F&O) side of the market, specific stocks and sectors.Below is the verbatim transcript of Mithil Pradhan's interview with CNBC-TV18Eicher Motors"Eicher Motors has completed a short-term decline, so approximately around Rs 20,200 it completed a decline and has given higher high breakout today. Therefore, I would suggest that traders should look at building long positions here. The stock is in a very strong uptrend, so Rs 22,000 to Rs 22,500 should be coming any point of time. I would keep a stop loss of Rs 20,700 for the time being and target of Rs 22,000 in the short-term."Hindustan Petroleum Corporation"I have always been bullish on Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL). HPCL has outperformed BPCL by quite a margin; in fact HPCL has doubled in the last four months. It has completed a short-term decline.""HPCL is a simple buy on decline strategy that I am applying right now. I would keep a stop loss below the low that it saw in the past three-four days which is Rs 859and the target I am looking at is Rs 1,030 approximately. The second reason is that crude at USD 42-43 per bbl still has about 5-6 percent decline left before it reaches the historical support zone of USD 38.40 per bbl. So there is still some upside in HPCL," he said.Voltas "I have a sell call on Voltas because of sectoral reason. The BSE capital goods index has created a major double top and in most scenarios most capital goods stocks will look for a short-term decline from here. Voltas is specific because it is one of the first stocks which have created a breakdown below short-term support around Rs 310 approximately.""I would look to short Voltas. The momentum from an oscillator perspective is showing a short-term decline. So I would look at Rs 278-277 on the downside and the stop loss that I would like to keep is around Rs 308-310," he said.
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