Vikas Jain, Senior Research Analyst at Reliance Securities has suggested three short term trading calls for traders. These calls have been given for a short period and could be executed within 2-3 weeks timeframe.

Jain said that Nifty going below 11,150 could trigger selloff in Indian equities and traders can find many opportunities to sell stocks if these levels for NSE Nifty are breached.

As per Jain, ACC can be sold at current levels of Rs 1420 for a target price of Rs 1,280. Traders should keep a stop loss at Rs 1530. Over the last four weeks, ACC made multiple tops in the range of Rs 1,440-1,460 and this can cap the up-move and the breakdown of its short-term average will trigger a selloff. Its key technical indicator, on the short-term timeframe, has reversed from the overbought zone and is on the verge of a reversal. We believe its long-term moving average (200-week SMA) near Rs 1,510 will act as a reversal point.

Jain has suggested SELL call for Godrej Properties around its current level of Rs 865. The target price has been suggested at Rs 760 with a Stop loss of Rs 940. The stock has retraced 61.8 percent from its previous down-move and later remained sideways. The stock’s key technical indicators on the near-term timeframe chart are negatively poised which could drag the stock towards Rs 760 levels. Any jump above Rs 940 mark will negate a down-move in the stock.

Traders can BUY Pidilite Industries around its current level of Rs 1,450 for target price of Rs 1,710. Traders should keep Stop Loss at Rs 1,294. Pidilite is in the long-term rising trend. Since April 2013, it has tested its 100-week SMA multiple times and later reversed. Whenever its RSI has reversed after testing its bull market support zone (40-33), it has supported the stock to record new high. The stock has also given a breakout from its short-term falling trendline and rose to a 2-month high. We believe that the current up-move will continue and the stock will test its medium-term resistance zone.