Short JSW Steel, PFC: Amit Harchekar

Amit Harchekar of A-Plus Analytics told CNBC-TV18, "We have seen a dollar strength in last couple of days compared to a basket of currencies and that is why we have seen weakness in a lot of metal stocks. JSW Steel a few days back has already given a reversal from bearish start and that indicates that this decline is likely to continue for at least a couple of weeks.""At current levels, we would recommend JSW Steel between Rs 1,030 and Rs 1,040. The stoploss for short positions would be at Rs 1,070. We are expecting stock to drift lower between Rs 950 and Rs 970," he added."Second short recommendation would be going short on Power Finance Corporation (PFC) January Futures. On daily chart, this stock has clearly given reversal on RSI. That is a negative reversal where the RSI has formed a higher high but prices are unable to cross the intermediate high. That indicates a lot of short build up has taken place between the zone of Rs 202 and Rs 205.""We would recommend going short at these levels. We don’t see stock now surpassing their resistance of Rs 211 so that turns out to be a stoploss and we are expecting a slide of at least 10 percent in next three weeks. So these are two short calls in the short-term," he said.