Sell BHEL, Cairn India, DLF: Mohindar

Rahul Mohindar, viratechindia.com advises traders to sell BHEL, Cairn India and DLF at current levels.
 
Mohindar told CNBC-TV18, “Nifty, important level definitely playing into the minds of most traders is that 5,800 level, which we almost knocked at in this week’s trading. So 5,800 breaking, we are probably going to look at another 150 odd points on the downside. So whichever way, we are looking at a fairly sharp breakout whether it is above 5,950 or below 5,800 my hunch is still on the upside, but should the market get weak? One should really focus on selling some of the stocks like Bharat Heavy Electricals (BHEL), Cairn India, DLF – these are the names that come on the Nifty that I would look at selling into.”
 
He further added, “The other set of stocks, which I tend to avoid even at these levels would be the metal pack. They have already been beaten down, but there is no sign of picking up or there is no immediately very strong support where one could look at strong bounce backs from. So, I think one would still hammer the weakest if the market has to breakdown.”