Wait for Essar oil to trade below 61.5-61: Mitesh Thacker

In a chat with ET NOW, Mitesh Thacker, Technical Analyst, miteshthacker.com, talks about Essar Oil.

On the charts Essar Oil?

I would wait for 61.5 to be taken out. Once it starts trading below that I will go short over there though this one is on the short list but the stock has just managed to recover in the face of bad news that is not a good sign for keeping short positions open. So wait for the stock to trade below 61.5-61 then take a trade.