Short Indiabulls Housing Finance, says Mitessh Thakkar

Mitessh Thakkar of miteshthacker.com told CNBC-TV18, "Metals is something which I am following while the ferrous part is still showing some traction on the positive side, Hindalco Industries, NALCO, the aluminium ones are showing weakness and there could be follow up happening over there. So in case we don’t sustain the opening gap up, that is the area which I would want to see if there is some kind of shorting available."

"I would want to see Godfrey Phillips start getting past levels of Rs 1,310 and that could be some kind of a swing breakout. If that happens, that could be a good trade for the day."

"I would want to see Godfrey Phillips get past Rs 1,320 and then buy with a stop loss at Rs 1,299 for target of Rs 1,365. If RBL Bank starts trading below Rs 505-504, that will be a short call, keep a stop loss at Rs 518 and target of around Rs 480," he said.

"Indiabulls Housing Finance would be a short, I would keep a stop loss just above levels of Rs 1,100-1,102 and take a short position. The first target on the downside should be closer to about Rs 1,040. Similarly, Dewan Housing Finance has also broken down but between the two I would prefer Indiabulls Housing Finance."