Short Federal Bank and it may slip to Rs 475, says Monal Desai, Sunidhi Securities.
Desai told CNBC-TV18, “Federal Bank is a good short candidate now. It has broken previous levels, so I think it can go all the way down to Rs 475. Keep a stop loss at around Rs 501. Rs 475 would be a good level to cover your shorts. It has added 7-8 percent in short build-up also today.”
He further added, “Bajaj Auto is another stock. It has broken that Rs 2,030 odd support. It is trading around Rs 1,980 I guess, so keep a stop loss around Rs 1,995 for a target of Rs 1,900 for Bajaj Auto. Bajaj Auto probably might not happen so fast because there might be some buying action, but Rs 1,900 is the probable target which Bajaj Auto could hit.”
Disclosure: We are recommending some of the stocks discussed to our clients. I do not have any personal positions in the stocks discussed.