Sell infra stocks on every rise: Thukral

One can sell infra stocks on every rise, says Hemant Thukral, National Head-Derivative Desk, Aditya Birla Money.

Thukral told CNBC-TV18, "I think all are high-beta spaces, so very clearly there have been short positions. If you checked the infrastructure lot, the last series they started with a bang, they moved up. Then they saw profit booking. Now they are under tremendous pressure of short positions. So whether Lanco, GMR Infra, GVK Power, Punj Lloyd, all have huge short positions."
He further added, "You will find some rates where actually the short covering will start, but I think at every higher level now you will see people stuck up trying to cover their position. So they will face selling pressure coming in. I would not be buying them even at dips. In fact I would be looking to sell them, provided they move up by 8-10% due to short covering. So I belong to the camp which will be selling these stocks at every rise rather than looking for opportunity to buy."