Sell NTPC, Adani Port, Tata Steel; buy Cipla: SP Tulsian

SP Tulsian of sptulsian.com told CNBC-TV18, "After Cipla saw a good correction after the December quarter numbers which were dismal since then the stock has corrected from Rs 415 to as low as Rs 365. Now we have seen the renewed buying coming back. In fact that started since yesterday. So, look for a level of Rs 377 till end of the day with a stoploss of Rs 370."

"NTPC has shown some good upmove in the last one hour. It has risen by couple of rupees but if one really sees the data in cash we have seen a volume of 1 crore 25 lakh shares and in the cash we are seeing selling. Yesterday also 2 crore shares got sold in the cash segment and the open interest in the March series had increased by 1 crore. That means the position is shifting from cash to Futures which is always termed as a negative sign. Even today we are seeing that there has been no drop in the February series open interest but the March series has risen by about 45 lakh shares with volume of 1 crore 30 lakh shares in the cash segment. So, probably at the end of the day we are going to see the same thing, delivery of 50-60 lakh shares in cash segment with increase in open interest. So, look for a target of Rs 113 and stoploss of Rs 116.50 till end of the day," he said.

"One may short Adani Ports and Special Economic Zone, Rs 170 is seen as its resistance. In the last one year it has not moved beyond Rs 170. Yesterday also the stock has corrected from Rs 170 and the same profit booking is going on. So, look for a level of Rs 158 with a stoploss of Rs 161.50."

"One may short Tata Steel. All the metal stocks are ruling weak. Whether one takes a call on Steel Authority of India, Tata Steel, JSW Steel or Jindal Steel & Power. I am not including SSLT because of the raids of the DRI having taken place at their office. However one can include that also. So, look for a level of Rs 359 with stoploss of Rs 366 till end of the day."