Sell Aditya Birla Nuvo, Karnataka Bank, McDowell: Malkan

In CNBC-TV18's popular show Bull's Eye, Vishal Malkan of malkansview.com shares his trading strategies for the day.

One may sell Aditya Birla Nuvo. The stock has faced strong resistance at the levels of Rs 1,200 in the last 4-5 days and forming bearish candle stick pattern on daily charts. Volumes have been increasing on the downside. Hourly momentum has entered into bearish zone. I recommend a sell with a stoploss of Rs 1,200 for targets of Rs 1,150.

One may sell State Bank of India (SBI). Banking had seen a huge rally in the last couple of weeks but in the last couple of sessions it is showing some signs of tiredness indecisively looking for some retracement in the next couple of sessions on the downside. For today I have a stoploss of Rs 1,660 for target of Rs 1,575.

Karnataka Bank has seen a huge rally from Rs 75 levels to Rs 95 levels in the last couple of weeks. In last couple of days it has formed some bearish candle stick patterns on daily charts. Hourly momentum has entered into bearish zone. For today I have a sell call with a stoploss of Rs 92 for targets of Rs 82.

One may sell McDowell Holdings.