Rajat Bose of rajatkbose.com told CNBC-TV18, "I am actually selling two March futures. One is BPCL. The stock actually looks pretty weak in today’s session and it has been showing some weakness. I would put a stop loss above Rs 436, and my targets are Rs 419 and Rs 413.50."
"The other March future that I am selling is PVR. The stop loss is above Rs 1,352 and targets are Rs 1,332 and Rs 1,325."
"I am selling futures in anticipation of the continuation of the downtrend because what I see is that the index is not holding on to 10,560 and higher levels are not being sustained. So there is a possibility that weak stocks like BPCL or PVR are likely to seek even lower levels. Hence, these short calls," he said.
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