Sell IVRCL, Opto Circuit, HDIL: Jain

In CNBC-TV18's popular show Bull's Eye, Pankaj Jain, Sunteck Wealthmax shares trading strategy of the day.

Short IVRCL. What we are seeing is, some of these smaller midcaps, infrastructure related midcaps with high debt there are facing horrific time. We believe that the kind of weakness, stock was showing even at the closing there was no pullback and the stock has been making new life time lows and the kind of debt concerns, management concerns we feel the kind of negativity that is surrounding the stock could make the stock drift much lower. Taking that into consideration we have renewed our short call on IVRCL.
Short call on Opto Circuit. What we have seen in Opto Circuit that the stock closed at lower point of the day. There was no pullback in the stock and the corporate governance issues are again coming back into the limelight. Serious debt concerns after what happened with HDIL is again coming back in to the limelight. Somehow the fortunes of Opto are linked with fortunes of European market and with no respite coming in European market, Opto is further facing heat.
Short call on Housing Development and Infrastructure Ltd (HDIL). Though stock was been beaten out of shape in last one and one and half months we believe that the kind of concerns that have come in - Care has downgraded the company to default grade and the company has defaulted on debentures. We believe that markets have not taken it lightly and the pressure on this stock could continue and most of these midcap realty stocks are facing the heat. HDIL could be headed further down.
Long on Mindtree. In this turmoil kind of market only very few pockets of resistance can be seen and Mindtree is one of those stocks. Not to forget that Mindtree even in market we have seen in the last two days has been scaling new 52 week life time highs and the performance of the company has been good. IT sector along with pharmaceutical sector has been one sector where defensive money is again going. Mindtree for the last six-seven months has been performing very consistently. It has all long be floating above short-term moving averages.