Short Canara Bank, Larsen & Toubro; avoid United Breweries: Prakash Gaba

Prakash Gaba of prakashgaba.com is of the view that one may short Canara Bank and Larsen & Toubro while one can avoid United Breweries.

June 12, 2017 / 17:15 IST

Prakash Gaba of prakashgaba.com told CNBC-TV18, "I have two stocks, both short. I will go with Canara Bank; that looks a tad weak here. We can see a slide to levels closer to Rs 344. It may take a day or two for that, stop above Rs 360 on Canara Bank should be fine."

"Larsen and Toubro (L&T) is a stock that has cracked this morning. I think it is continuing its down move. Target that I have is Rs 1,710-1,700 zones, keep stop loss above Rs 1,750," he added.

"United Breweries is not cracking. It is typically sideways, there is no sign of strength, no sign of weakness. It is a good stock to avoid."

first published: Jun 12, 2017 02:26 pm

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