While the broader market continues to see pockets of strong buying interest, analysts and brokerage firms are advising caution on specific counters that are showing technical weakness.
Top market experts have identified high-conviction short-selling opportunities in the consumer durables, private banking, and energy exchange sectors.
Here are three top sell picks and trading strategies for the upcoming session:
Voltas
Chandan Taparia, Head of Technical & Derivatives Research at Motilal Oswal Financial Services (MOFSL), sees technical weakness in the consumer durables space. He has recommended a sell on Voltas, setting a downward target of Rs 1,185. He advised traders taking the short position to maintain a strict stop loss at Rs 1,260.
HDFC Bank
Vaishali Parekh, Vice President of Technical Research at PL Capital, identified a selling opportunity in the private banking sector. She suggested initiating a short position on HDFC Bank at Rs 745 for a downward target of Rs 720. To protect the trade against sudden reversals, she recommended placing a stop loss at Rs 760.
Indian Energy Exchange (IEX)
Ajit Mishra, SVP of Research at Religare Broking, has placed a sell rating on the energy trading platform IEX. He recommended entering a short position at the current market price of Rs 115.2 for a target of Rs 102, advising traders to keep a stop loss maintained at Rs 121.
Disclaimer: The views and opinions expressed by the investment advisers on NDTV Profit are of their own and not of NDTV Profit. NDTV Profit advises users to consult with their own financial or investment adviser before taking any investment decision.
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