SP Tulsian of sptulsian.com told CNBC-TV18, “I am going short on Adani Power because the kind of exuberance which we have seen yesterday, people have created a long trading position, even they have gone long in the morning and which I don’t see any reason. In fact all the Adani stocks are looking weak. If you take a call on Adani Port, Adani Power or Adani Enterprise but I have taken a short call on Adani Power with a day target of Rs 55, with stop loss of Rs 57.”
He further added, “The second sector where I have been keeping my negative stance is the banking stocks and particularly on IndusInd Bank when it used to rule at about Rs 515-520, I have always said that it is having a stiff resistance, people have been creating long position and huge longs are seen having built in the stock- again taking a short view on IndusInd Bank with a target of Rs 484 and stop loss of Rs 493 in remaining 45 minutes of trade or so."
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