Sell Adani Power on bounce: Hemen Kapadia

Hemen Kapadia of KRChoksey Securities told CNBC-TV18, "Adani Power day before yesterday itself, has posted a fresh all-time low. I do not have longer-term data, but whatever data we have seems to suggest that we are very clearly in a short, medium and long-term downtrend. Do not see a reversal as of now despite it being slightly oversold. So, I would have a sell on bounce.""If the market weakness continues which is a possibility, I guess Siemens and Axis Bank can be considered for investing from a longer-term point of view. But that also not at current levels. But Adani Power definitely seems like a sell on bounce," he added.