Sushil Kedia of CIMB told CNBC-TV18, "I have had a short bias and market hasn’t been too kind. Again if I find much more cogent short signals that are fresh – I am not having any convincing immediate short term long ideas. If I don’t have those ideas I will not push the envelope across the table."
"To me it seems if one has to be a short term trader which is not the best thing to do in the life ahead of such massive events but if we have to do it there are better signals for shorting in Bank of Baroda, Punjab National Bank, State Bank of India and even ICICI Bank but I will wait for a confirmation on Tuesday. If it closes lower than four days ago then there will be confirmation. Ranbaxy Laboratories can devastate from here. These are four or five key short fresh ideas for now," he added.
"HCL Technologies has already had a decline, it has been in a very massive long term uptrend but from a make or break point yesterday the lower close today has given a down trend extension. The same picture remains on Infosys and Wipro. While they have shown some decline, in the long term uptrend is very strong in them. People who have piled up lot of trading profits in the recent past should get into these slightly riskier shorting because there has been already a decline. So, Ranbaxy and banks are my top trades to be taken on the short side for the coming week."
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