Sell Voltas, may head down to Rs 277-278: Mithil Pradhan

Mithil Pradhan of Violet Arc Global Managers told CNBC-TV18, "I have a sell call on Voltas because of sectoral reason. The BSE capital goods index has created a major double top and in most scenarios most capital goods stocks will look for a short-term decline from here. Voltas is specific because it is one of the first stocks which have created a breakdown below short-term support around Rs 310 approximately.""I would look to short Voltas. The momentum from an oscillator perspective is showing a short-term decline. So I would look at Rs 278-277 on the downside and the stop loss that I would like to keep is around Rs 308-310," he said.