GAIL may test Rs 365, UPL Rs 540, Asian Paints Rs 940: Gaba

Prakash Gaba of prakashgaba.com told CNBC-TV18, "GAIL India looks to me an exhaustion pattern and it looks like the way it is trading, possibly there is some downside in the days to come. The target could be in the vicinity of Rs 365 and stop loss is Rs 377.""Reliance Capital has an exhaustion pattern. The stock actually could not climb up and found a tremendous resistance around Rs 407-408 zones. So, chances are it can slide down to levels closer to Rs 385 and keep stop loss above Rs 400," he said."UPL is a weak stock, it has broken a very important support at Rs 578. So the stock can slide down to levels closer to Rs 540, keep stop loss above Rs 575.""Edelweiss Financial Services should be seen from a slightly longer term perspective. It has given a classical weekly buy pattern on a weekly chart. On a monthly chart also it is up. In short-term the target is around Rs 70, stop loss below Rs 60-62 zones should be fine.""Asian Paints is looking weak. It could slide down to levels somewhere closer to Rs 940. I would have a stop loss above Rs 960 and trade short.""Bharti Airtel looks weak, the stock can slide down to levels maybe around Rs 333-332 zones. Stop loss above Rs 345 should be fine.""Gujarat Heavy Chemicals looks okay, but I would wait for it to breakout above Rs 155. If that happens, it is a buy then and the stop loss is below Rs 150, otherwise I will stay out."