Sell IVRCL, HDIL, IFCI: Pankaj Jain

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

I have gone short on IVRCL with stop loss at Rs 34.15, target price of Rs 30.15.
Short HDIL. The kind of mayhem we had seen in the stock on January 24, and the kind of explanation the management came out with does not sound to be very convincing and satisfactory to the market. Management sold 1 percent of their shareholding just to gather a small amount of Rs 50 crore and market does not seem to be very convinced about that. Technically stock is looking pretty weak and it has become a sell on rise kind of stock.
Short IFCI. The kind of positivity we had seen in the stock about a month back after board of director reshuffle, the positive momentum seems to be losing out and the broader consensus in the market now seems to be that instead of fresh banking licence for the company merger with a larger PSU banks, stronger PSU banks maybe a better idea. That may not auger all that well for the shareholders of IFCI.
Long on Shasun Pharmaceuticals. What we have seen that this stock in the last about 30-40 days has come down heavily from levels closer to Rs 160-Rs 165. It corrected to levels closer to Rs 90-Rs 95. it is a midcap pharmaceutical company, decent company and the stock was in over sold territory.