SP Tulsian of sptulsian.com told CNBC-TV18, "One may go long in CESC because the stock has really been holding on. So, look for a level of Rs 464 with a stoploss of Rs 455," he said.
He further added, "One may go long in Adani Enterprises. After having seen a huge correction Adani Ports and Special Economic Zone which is its subsidiary also has stabilised or is showing some uptick and inline with that Adani Enterprise also seems to have come back with a renewed buying interest coupled with short covering. So, look for a level of Rs 247 with stoploss of Rs 242."
"One may short Tata Steel because of the kind of volume which we have been seeing in the stock and may be the open interest which has risen by about 20-21 lakh largely on the short side. Infact for the last one week or so we have been seeing deliver based selling happening in the stock and that is reason the stock has corrected from a high of Rs 425-430 to as low as Rs 375. This weakness is likely to continue because overall there is negative perception building up on all the steel company results – they may not be able to cheer the market, the results are likely to be really very bad. So, look for a level of Rs 372 at the end of the day with a stoploss of Rs 380."
"One may short Power Finance Corporation, look for a level of Rs 147 with stoploss of Rs 150."
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
