Hemant Thukral's view on GMR Infra, JP Associates

Hemant Thukral, National Head-Derivative Desk, Aditya Birla Money view on GMR Infrastructure and Jaiprakash Associates.

Thukral told CNBC-TV18, "From last three sessions they have seen continuous shorts. Its gets stock specific like GVK yesterday because of the results, saw huge short positions built up. GMR Infra was another one which saw huge short built up, but overall as a sector, last three sessions across the board huge shorts are being built up. Every time market comes down they are the ones which face the heat because they are high beta ones and they obviously come down."
"A stock like JP Associates which has come down to Rs 61 or Rs 60 levels.  The way the shorts are being clot I would not like to go short at current level at JP at Rs 60-61. The range of the stock has shifted southwards, but now the way the shorts are and stock has come down by 29% I would wait for some rebound and then go short."
"I would be waiting for around Rs 65-66 levels to go short on JP rather than going short at Rs 60-61 levels. The whole idea is that whether you want to go short at current levels or wait for a rebound and then go short, but they are definitely weak. There is no second doubt about it."