Short REC, PFC, says Amit Gupta

Amit Gupta of ICICIdirect told CNBC-TV18, "In the midcap space one can look at Rural Electrification Corporation (REC), Power Finance Corporation (PFC) from short covering perspective because once the market breadth started getting positive the oversold candidates have good platform now for two-three sessions to perform.”

“From trading bounce perspective, one can look at them otherwise heavyweights like HDFC is still under pressure. The kind of breakdown we have seen below Rs 800 in HDFC, I will remain skeptical in this space and the kind of beating we have seen in LIC Housing Finance is still very scary. So, I will look at PFC, REC from short covering perspective,” he adds.