Short Tata Steel: Aditya Agarwal

Aditya Agarwal of Way2Wealth.com told CNBC-TV18, "Tata Steel has seen a very good rally in the last couple of months but on higher side we have seen that the stock is seeing some selling pressure. It has broken its crucial support of Rs 390 and it is trading below that only. We are seeing some short positions in Tata Steel at current levels."

"We are expecting that the stock may test Rs 365 levels in short term. At current levels one may go short in Tata Steel keeping a stoploss of Rs 394 and on lower side target will be Rs 365," he said.

Disclosure: He does not hold any positions in the stock.