Short Vedanta, target Rs 55: Shubham Agarwal

Shubham Agarwal of Motilal Oswal Securities told CNBC-TV18, "In metals, even though we had a short-term relative outperformance, in the sense the market did see a breakdown happening and many metal names were not falling as much. So, that comes to an end and some of our statistical models, on the sector, is showing that there is a fresh downside that we might see in the metals space.""In Vedanta, there was a continuation pattern which was formed on the daily charts from where we have seen a breakdown happening. So, this can extend move on the downside towards Rs 55, so that is a target that we are looking at with a one to one and half months' perspective one can look to short Vedanta with a stop loss at Rs 78," he added.