Sell Reliance Ind, DLF; buy Cipla: Rahul Mohindar

Watch the interview of Rahul Mohindar of viratechindia.com with Latha Venkatesh and Sonia Shenoy on CNBC-TV18, in which he shared his reading and outlook on market and specific stocks.DLF"Real estate in medium-term to long-term is definitely hurt, traders are obviously not satisfied holding these companies and this is the market which probably now has a mass appeal in terms of a bear strength. What it appears to me is DLF technically has broken key averages and most indicators are negative. We have seen a bit of a relief rally or rather an intraday uptick today and I am trying to utilise any of these upticks as selling opportunities. So with Rs 116 stop loss, I think DLF will retest levels of Rs 102 and that may happen in the very near-term. Of course I do believe that the stock is finally headed to double digits."Cipla & Lupin"I am not all that positive on Lupin as much as I am on Cipla. In the very near-term, Lupin is probably going to get some support at Rs 1,700 levels but again that remains to be seen whether it holds and breaks out from here. So I think it is a big question. The fact that it has had a support is interesting but I don’t think we are breaking out. So I don't see big trigger on Lupin.""Cipla too is one of those stocks, which I am buying because it is at a very established support. If we recall, Rs 610-620 over the last three-four months has been a very beautiful support. It had almost doubled and triple bottomed here. So again using that little viewpoint, using this big support as a level, I would buy it, Rs 647 at least is the decent short-term target. If you are trading intraday, you may want to keep a stop loss at Rs 615 but if you are willing to hold this a bit, Rs 610 is a big support too, so you may want to even tweak that a bit," he said.Reliance Industries"Effective Monday and Tuesday we have been putting our sell call on Reliance Industries. We have targets of Rs 910 but on further review, we think the stock is probably at a very critical point. The level of Rs 910 is not just a tipping point in terms of averages like the 200-day moving average, it has also been the November bottoms. So that level is going to play a very important role. We are assessing based on the indicators that we will break those levels, move to Rs 895 and this is one of the stocks, which will probably drive the index down. So in terms of index heavyweights, this looks the weakest to me. Again intraday anywhere between Rs 930-935 would be a good point to go short, stop loss is around Rs 940-939 level. We are looking at new lows, we are looking at breaking that very important level of Rs 910."Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com.Ajanta Pharma"I have a target on Ajanta Pharma at about Rs 1,100. We are negative on this stock. So I would extend the slide, we have been sliding from Rs 1,700 over the last four-five months and the reason to that is that we have broken a lot of important levels, if we look at that whole range, since mid-February or March, it held levels like Rs 1,300 and we have now gone out and closed below Rs 1,300 and that is the first close that we have seen below it and also big averages broken. So there is no reason for me to look for support here. If I have to look within the pharmaceutical space, let us go to places where we have seen stocks at support."