Short BHEL, IndusInd Bank: Ashish Chaturmohta

Ashish Chaturmohta of Fortune Equity Broker told CNBC-TV18, "Bharat Heavy Electricals (BHEL) is trading at almost 7 months low and once it closes below Rs 221 kind of level, it will be a clear breakdown on weekly and monthly charts. In terms of open interest (OI) data, clearly lot of short position is being built up in the stock. So I think BHEL is looking quite weak."

"One can initiate short position with a stop loss above Rs 227 and on the downside, I think the stock can target Rs 210-212 kind of levels in next three-four trading sessions," he said.

"IndusInd Bank is showing a lot of weakness. The stock is trading at almost 5-6 weeks low. It has broken the crucial support of Rs 810 with a very strong volume participation. So one can initiate short position keeping a stop loss above Rs 810 and on downside one can expect a target of Rs 760-755."

Disclosure: Analyst does not have any personal holdings.