Short REC, DLF, Reliance Infra, says Kulkarni

Shardul Kulkarni of Angel Broking is of the view that one can short Rural Electrification Corporation (REC), DLF and Reliance Infrastructure.

Kulkarni told CNBC-TV18, "Rural Electrification Corporation (REC) is one counter which may move lower, so it is one short that we have recommended. On the upside Rs 218 is the stoploss and on the downside we expect the stock to move to around Rs 200. So that would be one of the shorts." He further added, "DLF in which the patterns are clear and the chart structure is of clear flag breakdown, so we expect the stock to move around Rs 196 in the near future. In case of Reliance Infrastructure, very similar pattern and Rs 480 looks quite a possibility. So these would be the three stocks wherein we would recommend short positions."