Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "The auto space is now suggesting that Mahindra and Mahindra (M&M) is weakening. Distinctly weak and likely to go down further. It was already in a down trend. There was a small bear market flag in it and the flag is breaking on the downside. Significantly lower levels are available, so for today consider going short in M&M."
"The same story applies to cement. All the cement stocks are weak. Ambuja Cements probably is the weakest of the lot. Consider a short position in Ambuja Cements not only just for today till closing but also carry it for tomorrow," he added.
"Raymond is no longer in the F&O segment but even if you want to buy it in cash it is a good idea, carry it for a couple of days. The stock has been rallying; a small correction seems to be getting over. So, primarily the thrust is to go and short weak stocks. In the cash segment buy Raymond."
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
