Sell Reliance Infrastructure, advises Shardul Kulkarni

Shardul Kulkarni of Angel Broking told CNBC-TV18, "Reliance Infrastructure is the only stock which one can sell with a stoploss at Rs 421 because of a good risk to reward ratio. What we see is that there is a clear trendline breakdown which has already taken place. Momentum oscillators on the daily as well as the weekly chart don’t bode too well."

"At least in the short-term this particular stock can move lower to around Rs 385. So we are recommending a short with a stoploss of Rs 421 for a target of around Rs 385 on the lower side," he said.

Disclosure: He may have positions in the stock discussed and may have recommended them to his clients.