After a strong downfall from 2618 to 2144 HDFC has given a correction (this is a correction till it doesn’t trade beyond 2450 – 2460) and traded up to 2430, now HDFC might resume the downfall, so as of today one can go short for a target of 2300, HDFC is currently trading close to 2380 one can keep a stoploss close to 2398 next 2406 and lastly at 2415 and go short on HDFC for a target of 2300 intraday. Also if by any chance HDFC trades above our stoploss wait for HDFC to move past 2430 and then short HDFC Future with a stoploss of 2460 (cash) and 2500 for a minimum target of 1800 in coming 2-3 months.
Hero Honda to seems to be topped out and could be a target for short building the first minimum target on it seems to be close to 1200 which could be achieved within 1-3 months, the next target on it seems to be close to 900 which could be achieved within 5-6 months possibly by year end stoploss for all this positions is a trade by Hero Honda above firstly 1520 and next 1626
Bharti Airtel to seems to be in a phase of distribution and could be a target of shorts with a stoploss close to 800 and 850 for a target of 500 in next 4 months
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