Sell Reliance Communications on rise: Hemant Thukral

Hemant Thukral of Aditya Birla Money told CNBC-TV18, "Importantly for me the Call writers are now putting firm grip on Reliance Communications (RComm), they are shifting southwards from Rs 155 at the opening of the week and they have transferred themselves to Rs 145. So clearly they are putting more pressure on the counter and in this expiry it may not cross back above Rs 146-147 mark."

"Any bounce back due to Nifty should be utilized as a sell on rise opportunity keeping a stoploss of Rs 147-148 and I expect it to re-test Rs 135. If it breaches Rs 135 which was a major breakout level then RComm can even go and re-test Rs 125 on the downside. It is a sell on rise stock for me the way the shorts have started to creep in and the way the call writers are forming a firm grip on this counter now," he said.