I would initiate is on Reliance Capital: Vijay Bhambwani

Vijay Bhambwani, Author, CEO, BSPLindia.com, in a chat with ET Now, gives his trading idea


Do you want to initiate a short at this level?

I would not mind shorting the Nifty at the present levels. The September Future is quoting at 4804 approximately. Should it start to maintain below the 4795 odd levels I would initiate a short on the Nifty holding with the stop at 4815 or 4820 expecting to book profits around 4750 to 4765. The other short I would initiate is on Reliance Capital. The September Future is at 395.5. Short at the present levels and hold with the stop loss at 398 odd levels. I would expect to book profits anywhere close to Rs 388 to Rs 390 today.