Short NTPC at around Rs 143-145: Abhijit Paul

Abhijit Paul of Alphative Advisors told CNBC-TV18, "NTPC did manage to gap up with the overall market in yesterday's trade and we have seen quite a big gap down for the day, Rs 135-136 in the cash market for this stock seems to be the intraday support, but I sense that this stock had been in a downtrend for quite sometime, managed to bounce back, but then weakness has come up again."

"On a bounce back if it fails to take out Rs 143-145 then I sense that stock will probably stay in the weak zone. It is not one of those stocks which participates in the overall market both on the up or the downside. So I sense that what the stock would do best for itself is probably make a wide range. At Rs 143-145 one can look for a contra short," he said. Disclosure: He does not hold the stock but his clients may have their positions in the stock.