Short Reliance Capital, advises Ashish Chaturmohta

Ashish Chaturmohta of Fortune Equity Broker is of the view that one may short Reliance Capital as the stock may test Rs 535-540.

Ashish Chaturmohta of Fortune Equity Broker told CNBC-TV18, "As far as Reliance Capital  is concerned, we have seen a very strong short build up in the stock. Since the stock has broken Rs 610-620 levels and in last couple of days, we have observed it breaching its good weekly supports of Rs 590 zone."

"We are recommending a short call in the stock with a stoploss of above Rs 593-594 levels whereas on the downside Rs 540-535 is a possible target in Reliance Capital in the next three to five trading sessions," he added.

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