Rahul Mohindar of viratechindia.com told CNBC-TV18, "Britannia Industries has good long term charts and really what I look at is buying at around Rs 700 level. Over the next one or two months one might see this move to Rs 765 if not greater and keep a stop loss at Rs 675. I would initial this long trade on Britannia."
He further added, "On the sell side of the market what I really would look at is auto stocks for weakness. I would start by selling Mahindra and Mahindra where probably around Rs 860 one could initiate a short position. I see the stock losing about Rs 100 from here, so Rs 760 would be an estimate price target I trade for - Rs 885 being a stop loss that would be a short for M&M."
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