Short Adani Enterprise, Reliance Communication: SP Tulsian

SP Tulsian of sptulsian.com told CNBC-TV18, “I am going with two short selling ideas. First is on the Adani Enterprise, because if you really see the weak trend of all the Adani stocks and the kind of run up which we have seen in this last one week on Adani Power, Adani Enterprise, Adani Port and Adani Enterprise being the holding company I am keeping the bearish view on the stock with target of Rs 215 for remaining part of the day with stop loss of Rs 220.”

He further added, “The second stock I am taking a short call is on Reliance Communication with day target of Rs 101 and stop loss of Rs 105. The kind of run up which we have seen in the stock and I have been maintaining my view when the stock was ruling at Rs 112 that that is a strong resistance and once the profit booking come in that can make the stock to correct to about Rs 95-96, so negative call on Reliance Communication.”