Short sell ADAG stocks: CK Narayan

CK Narayan, President Treasury, Sharyans Resources in an interview with ET Now talks about ADAG stocks.

ADAG counters, any of them look good for shorting or all of them?

All of them are essentially shorts from a strategic point of view. We need to see this not only in the context of just a stock but also where the market is. So you have the news here to short the stock, no doubt about it.

Any upside trigger that people may have spoken about, last week you have this rumour with the market that some of the ADAG stocks had to be actually bought and then you did see some amount of action. So some amount of long positions could have got built which have been paired right now on the back of this news.

I would rather link the whole thing to the market, wait for the market to show bit of a rally and when it actually turns down, I would short the ADAG stocks first, not maybe try and short them now. It will be for a more aggressive trader to short it today but if you want to be a little more conservative, a little more risk averse, then try and time it with the market finishing its rally and then subsequently short the ADAG stocks.