Aban Offshore looks weak, says Rakesh Gandhi

Aban Offshore is looking weak, says Rakesh Gandhi, Senior Tech Analyst at LKP.

Gandhi told CNBC-TV18, "Aban Offshore looks weak at this point of time. I think it has broken its one kind of a formation, which was a rising flag kind of a formation and today it has fallen below Rs 400 level. I believe that it could go up to Rs 350 or maybe up to Rs 360 levels. If it is shorted at current level the stoploss should be kept at Rs 410 level,"
He further added, "Another stock is in banking which look weak is ICICI Bank; it has fallen quite a bit, today it is around 4% down and if it is shorted for a target of Rs 830 or so the stop loss should remain at Rs 890." Disclosure: I do not have any exposure but at LKP we are regularly recommending the stock.