Sell Aurobindo Pharma, NTPC; buy Cipla: SP Tulsian

SP Tulsian of sptulsian.com told CNBC-TV18, "One may short Aurobindo Pharma. Though we have been seeing the positive view or maybe bias practically happening on all the pharma stocks but this is a contrarian call. As of now 85 lakh shares have been transacted in the cash segment. Average is 526 or between 526 to 527. In the afternoon at around 1:00 pm we saw the share falling from Rs 540 to Rs 512. Huge volume having taken place, that is obviously of the delivery base or maybe the cash positions intraday cash positions got created. It indicates that profit booking is being tried by the strong hands but they have not been able to. So, I am expecting that probably the weakness or maybe the liquidation will come at the end of the day. So, look for a level of Rs 518 and stoploss of Rs 532."

"One may short NTPC which we have been seeing the negative bias post that CERC order. All the delivery based selling is happening in the stock. In the February series the position got shifted from cash to futures; that itself is very negative indication. Today also if one sees huge volume of about 70 lakh shares having taken place in cash. I don’t know how much that will get marked for delivery but the same indications seems to be continuing and that the cash based selling is seen in the stock and corresponding increase in the futures are not seen. So, look for a level of Rs 111.50 and stoploss of Rs 114," he said.

"One may short Tata Steel. I have been keeping the negative bias on the stock for last about 15 days or maybe practically for about a month. Look for a level of Rs 340 and stoploss of Rs 348."

"One may go long in Cipla. The stock seems to have bottomed out. It bottomed out at about Rs 365-370 post bad Q3 numbers. So, now look for a level of Rs 387 till end of the day with a stoploss of Rs 380."