Short Cadila Health, like McDowell Holdings: Uttekar

Sacchitanand Uttekar of Motilal Oswal Financial Services told CNBC-TV18, "We expect some stock specific activity for the next couple of trading sessions wherein we like some of the fast-moving consumer goods (FMCG) names. From them, we like McDowell Holdings. If you look at the overall structure, we saw a bullish harami reconfirming, the retracement support around Rs 25 and the stock has now started moving up. So, it is a very good buy. We expect the stock to retrace itself back to these 200-day moving average which is spaced around Rs 26.40 and a stop loss can be placed around Rs 24.80.""If you look at some of the oil marketing companies, post the results, they have seen a good amount of volume activity as well as the price confirmation. If you look at Bharat Petroleum Corporation (BPCL), we expect the particular run up to continue. We have a rising three pattern which got confirmed in yesterday’s session and we have seen a phenomenal move even in today’s session. So, we expect this particular stretch to continue. We expect this stock to scale to levels of around Rs 1,140 and a stop loss can be placed at around Rs 980 for the same," he said.""We have been negative on pharmaceutical space. Cadila Healthcare is still showing indications of a continuation move on the downside. So, we expect weakness in Cadila, we expect the lows of around Rs 295 to be retested and short positions can be initiated here with a stop loss around Rs 335."