Sell IVRCL, target Rs 152, stop loss Rs 174: Mithil Pradhan

In a chat with ET Now, Mithil Pradhan, market analyst, talks about the outlook of some of the stocks that are doing well on the charts today.

The markets are fairly flat this morning but stocks like IVRCL Infrastructure are looking very good, strong movement on the upside there. M&M, Hindustan Copper, REC and NMDC are also looking good. Do you like any of these?

I don’t like any of the stocks that you have mentioned. NMDC stays in a downtrend. IVRCL is also into a downtrend. If you look at IVRCL's chart, the oscillators are definitely showing me a bearish trend - a bearish market for this particular stock. Given the chance, I would ideally go short on this stock, my target is Rs 152 in the short term and this will be a short sell opportunity for me.