Go short on Reliance Capital; stop loss 289; target 282: Vijay Bhambwani

Vijay Bhambwani, Author, CEO, BSPLindia.com (Technical Check), talks to ET Now on Reliance Capital.

What are your stock recommendations today?

Today, I am basically banking on the market upsides to be a little laboured because of the fact that profit taking is coming in at higher levels. So, what I am recommending is basically a slew of short sales which are high risk high return in nature and must be closed out by 3:30 possibly today itself. So, there is no potential here for rolling over the trade for the next day.

Reliance Capital which I had recommended as a Rs 3 or 4 scalp long buy yesterday is now being recommended as a short sell or intraday today. I would initiate a short at close to 286 levels with a stop loss at 289, a target of 282 or close whichever comes first.