Short Voltas, says Kunal Saraogi

Kunal Saraogi of Equityrush told CNBC-TV18, "Voltas to my mind is broken down and is a very clear topping out pattern on the charts and has broken down through major support levels. So, the stock is definitely likely to go down more. So good strategy could be to go long on UltraTech Cement and go short on Voltas which is broken down."

"Voltas would go down more than UltraTech would. One should put a stoploss at Rs 260 on Voltas and put a target of Rs 245," he added.

At 15:19 hrs Voltas was quoting at Rs 251.25, down Rs 9.35, or 3.59 percent. It has touched an intraday high of Rs 258.80 and an intraday low of Rs 248.60.