Rahul Mohindar of viratechindia.com told CNBC-TV18, "Stocks like Jaiprakash Associates or Reliance Power which have all cracked a lot, they too still look like they have another 5-10 percent on the downside. So, it is a little bleak on the very short term. Amongst the Nifty stocks, Maruti Suzuki India is a stock where we have seen Rs 3400 being built up as a strong resistance. I think the stock is stalling and I would look at shorting Maruti at Rs 3300 or at current level. One could be looking at targets of Rs 3210 in the very near term and probably around Rs 3070 if one hangs on for a couple of days. The level of Rs 3340 is a reasonable stoploss to be trading this with. So, it would be a sell on Maruti."
"On the buy side I like Apollo Hospitals. So, at the current level or closer to Rs 1175, one could go long on Apollo Hospitals. We are looking at target of Rs 1270 to come into the stock. So, I would buy it with a stoploss at Rs 1130," he said.
"Another sell I would do amongst the Nifty set would be Cairn India. The stock has been under pressure for many days and it is going to continue to build up. So, at the current level or around Rs 270 I am looking at a sell, target is at Rs 255 for Cairn India keeping a stoploss at Rs 278."
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