Go short on IRB Infra, says Vishal Kshatriya

Go short on IRB Infra, says Vishal Kshatriya, Sr Derivative and Technical Analyst of Edelweiss.

Kshatriya told CNBC-TV18, "Go short on IRB Infra. The stock has generated trendline breakdown along with good volumes placed on its daily chart. Momentum oscillators on daily chart continue to trade with a negative bias. Besides this the stock continue to trade below its short term moving average indicating negative momentum in the counter. Open Int data indicates short built up in the counter. Traders can go short with a target price of Rs 150 maintaining stop loss above Rs 167.