Short Tata Motors DVR, says Siddarth Bhamre

Siddarth Bhamre of Angel Broking told CNBC-TV18, "If you look at Tata Motors DVR, we have seen huge volumes yesterday and at the same time the stock appears or the underlying appear to be in overbought zone or the stock can remain in overbought zone for a long period of time. But formation of short position in Futures and Options (F&O) is compelling us and this is a high risk trade. So one can think of going short in the range of Rs 298-302, fix the stop loss around Rs 309. I am expecting the stock to come down to Rs 279.""This is high risk trade because the kind of volume action and the F&O action that has happened, the move maybe pretty sharp and it may continue for some more time. So if my call goes wrong then follow stop loss otherwise the stock may have strong momentum to continue if stop loss is hit," he said.