Short Idea Cellular with a target of Rs 130: SP Tulsian

SP Tulsian of sptulsian.com is of the view that one can short Idea Cellular with a target of Rs 130.

Tulsian told CNBC-TV18, “Short Idea Cellular because I don’t think the kind of run up which we have seen in the share price of this stock is bound to sustain and you are going to see some profit booking coming in so maybe the share is now ruling at Rs 132 and one can look for a day target of Rs 130 by close of the day with stop loss at Rs 133.50.” He further added, “Second, is a long call on bank. I am going long on Karnataka Bank. In fact, Karnataka Bank seems to have come back in this last 45 minutes, come back on the buying list. Maybe this momentum can make the stock to move to the level of Rs 157 with a stop loss of Rs 154.”