Short Titan Industries, says Kunal Bothra

Kunal Bothra, Sr Technical Analyst of LKP told CNBC-TV18, "I am selling Titan Industries. Even in the last week I gave a sell on this scrip as well with a target of Rs 273. Now the stock is struggling and it has already met the first target of Rs 273, I have chosen to extend by target to Rs 263 levels on Titan. The chart is short-term downtrend and my sense is 200 day moving average could be a very crucial level for the stock where it can take support. So from a couple of days perspective even if you look at the market cool off over here I think Titan should be a very good contender for going short."

The share closed at Rs 271.45, down Rs 3.80, or 1.38 percent. It touched an intraday high of Rs 277.00 and an intraday low of Rs 269.30. There were pending buy orders of 38 shares, with no sellers available.