Manish Hathiramani of Deen Dayal Investments recommends selling Aditya Birla Nuvo, CESC and Unitech.
Manish Hathiramani of Deen Dayal Investments told CNBC-TV18, "One can sell Aditya Birla Nuvo for a target of Rs 1,590, with stop loss of Rs 1,675. This has been trading below its support range of Rs 1,650. The volume chart also indicates an incline with every price decline which is actually a weak signal. We should actually go down to levels of about Rs 1,550."
"One can sell CESC for a target of Rs 520 with a stop loss of Rs 565. The stock has been in a slow and steady decline for quite sometime now but there seems to be more pain left. The support levels of Rs 575 has been broken and that too on very high volumes," he said.
"One can sell Unitech for a target of Rs 14.75 with a stop loss of Rs 17. The level of Rs 17 was a good short-term support that has been broken down and it may go down to re-test the previous lows of Rs 15.35. If we break that the the next support level is Rs 14.75."
Disclosure: Analyst has short positions in the Nifty.