Short BEML, Ashok Leyland; buy UPL: CA Rudramurthy

CA Rudramurthy of Vachana Investments told CNBC-TV18, "BEML is a short sell. This has broken crucial supports today and it has also traded with increase in open interest with stock prices moving on the downside. The stock can touch levels closer to Rs 880 on the downside. One can trade short with a stop loss of Rs 960." "I also have a sell call on Ashok Leyland. This stock has also broken crucial supports at Rs 85 range and it is spreading with built up in open interest. It can look at targets closer to Rs 76-77. One can trade short with a stop loss at Rs 83," he said."I have a buy call on UPL. It has given a clear break out yesterday above levels of Rs 670. So, keeping a stop loss of Rs 670 where the break out has been seen, I am going long on UPL for the current futures, September series, looking for target of Rs 750 with a stop loss of Rs 670."