Sell Allahabad Bank: Pritesh Mehta

Pritesh Mehta of IIFL told CNBC-TV18, "Allahabad Bank is a terrible chart. We have been bearish on the stock from the levels of Rs 95. The stock had a terrific run from Rs 84 to Rs 95 and then the rally stalled. It moved sideways and started drifting lower."

"Now below Rs 83-84 the stock is on the verge of breaking below important support levels. We have already seen a structure of lower top-lower bottom coming into place on multiple timeframe; it’s a bearish looking chart. We can sell at current levels also for a target of Rs 76-77," he added.

Disclosure: Analyst may have recommended the above stock to his client but no personal holding.