Sell Indiabulls Housing, IDFC; buy Gujarat Gas: Subramanyam

Krish Subramanyam of Altamount Capital told CNBC-TV18, "Indiabulls Housing Finance has been a relatively stable counter and we have seen some sort of band being maintained but clearly levels were above Rs 740, we have seen long unwinding as well as shorts getting pressed and now with the overall market coming to the selling pressure, this counter also probably could be heading downwards. We are giving a sell call and one could keep a target of Rs 705 and possibly a stop loss of Rs 738.""Second sell call is on IDFC. This has been under selling pressure and post the demerger, we have seen a lot of shorts getting piling on this counter and today we have seen some fresh additions. So some near-term downside could be seen. Modest target of Rs 43 has been kept and one should keep a stop loss of Rs 46.50," he added."Gujarat Gas has been one counter which has seen a pretty good piling up at lower levels of around Rs 600-620 and we have seen it steadily rising. So this could be one counter, which could be probably in the eventuality of the market recovery should see some outperformance. So we are giving a buy recommendation on this keeping a target of Rs 665 and one could keep a stop loss of Rs 628."