See further downside in Sterlite Ind: Bhamre

See further downside in Sterlite Industries, says Siddharth Bhamre, Angel Broking.

Bhamre told CNBC-TV18, "Throughout this week we have been suggesting to short largecap stocks. We have suggested shorting TCS, we will suggest continue to hold on to it. In metals, Sterlite has just given to its very strong support of Rs 150 that has come down to Rs 141-142 odd levels. We believe there is further downside in that counter, so continue to hold on to your short positions."

He further added, "In auto I feel M&M has just given way, Maruti would follow. Two wheelers are not falling that much but I believe even Hero Honda and Bajaj Auto will give their way and that is good shorting opportunity in two wheelers space also. Lot of people are hiding in FMCG and pharmaceutical companies. I believe that is a 2-3 months old strategy, everybody is hiding over there. If somebody wants to hide now don