Avoid longs in HDIL, Unitech, GMR Infra: Ashish Chaturmohta

Ashish Chaturmohta of Fortune Equity Broker told CNBC-TV18, "We are witnessing some amount of short build-up and despite market recovery we are not seeing a major activity happening. So it is clearly suggesting that shorts are very comfortable holding their positions in most of this midcap, realty and infra space, particularly counters like Housing Development and Infrastructure (HDIL), Unitech and even for that matter IVRCL Infra."

He further added, "Maybe another downside of 5-6 percent is quite possible in all of these counters. So I would like to keep a focus on front-line banking space like HDFC Bank, Kotak or Yes Bank where heavy activity on long side is happening, so there a lot of money can be made. But clearly avoid HDIL, Unitech or GMR Infra for creating any longs at this point of time. Disclosure: He does not have holding in stocks discussed, but may have recommended them to clients.