Oil can easily go down to 35-40-45 levels: Shankar Sharma

You have liked oil marketing companies in the past, do you still like them?

That is a trade which is anti the oil trade. So if we are bullish in oil - as in we expect oil to go up - then that is not a space that you want to be in. But if you expect oil prices to go down as presently we do, oil can easily go down to 35-40-45 levels. Then one would definitely as a contra trade play the OMCs. So it is very linked to where oil is going to be trading.