Sell Reliance Communications: Mitesh Thacker

In an interview with ET Now, Mitesh Thacker, Technical Analyst, miteshthacker.com, shares his views on ADAG group of stocks.

Is the ADAG group of stocks a complete avoid?

No, can short them as well. I have got a short call on RComm today but very clearly what has happened is that these stocks have gone into a strong underperformance mode, they have started breaking below their earlier lows, lot of sell signals generated on charts. So I would be looking for some kind of shorting opportunities. Let’s not forget that these are high beta stocks and they move much faster than the market. So when you have identified the market trend which is now breaking below 4900 today, I would probably look for some kind of shorts over here.