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Last Updated : Jan 01, 2016 10:52 AM IST | Source: CNBC-TV18

Sell Kaveri Seed, Vesuvius: Rajat Bose

Rajat Bose of advises selling Kaveri Seeds Company and Vesuvius.

Rajat Bose of told CNBC-TV18, "Yesterday the futures and options (F&O) section was opened again for Kaveri Seed and we saw huge build up short covering. My feeling is that the short covering because it was the last day of the December clearing. So maybe today once again the shorts will come in. So once this short covering is through especially when it is done on a clearing day, the next day again short sellers come in and especially the levels that were achieved by Kaveri was quite attractive for short sellers to move in once again."

He further added, "I have kept a sell there, stoploss above Rs 361, target Rs 325 to about Rs 311. Over the medium-term to long-term it could even go below Rs 300 to about Rs 250 odd levels."

"If you look at the price chart of Vesuvius, this is definitely a sell but with a 30,000 volume especially on a day when it touched 52-week high and after that it retraced quite a bit. So what I understand is that people have just simply got out of it after it posted that kind of a high level. So it is a sell with a stoploss above Rs 820.25. I would say that instead of Vesuvius, one can trade other stocks like National Fertiliser and all, at least they are better in terms of volumes," he said.

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First Published on Jan 1, 2016 10:52 am
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