Sell Century Textiles, advises Shardul Kulkarni

Shardul Kulkarni of Angel Broking told CNBC-TV18, "Looking at the charts I would look at selling Century Textiles and Industries and Bharat Petroleum Corporation (BPCL). Century Textiles is about to give a trend line breakdown on the daily charts and Rs 295 has acted as a strong resistance over the past couple of trading sessions. Therefore, we recommend going short in Century Textiles for a target of Rs 260 with a stoploss of Rs 295. It is a positional call around six-eight trading sessions but the chart structure is quite good and traders can take this bet."

"In terms of BPCL, in yesterday’s trading session, despite the rupee moving below Rs 62, we were seeing that BPCL was correcting significantly and the rupee closed at 5 paise below the previous closing. So, there is a recovery, which we expect the rupee to depreciate going forward, which will have an impact on BPCL. Therefore, I would expect the stock to move lower. We recommend selling BPCL November Futures contract with a stoploss of Rs 356, and we expect a target of around Rs 320 over the next four-six trading sessions," he said.