Short Hindalco Industries, says Prakash Diwan

Short Hindalco Industries, says Prakash Diwan of Asit C Mehta Investment Intermediates.

Diwan told CNBC-TV18, "Given the way the market has been behaving in the last couple of sessions, particularly yesterday, I believe it is time to look at some short calls. One can short Hindalco for the day. Hindalco is facing the weakness that typically all our metal stocks have been facing, thanks to the commodity slowdown and particularly so there has been lot of activity in Hindalco puts which very clearly indicates that this is one stock that is going to be under stress for the day. I would like to short Hindalco at current levels with target price of Rs 164 & a stop loss of Rs 179."