Sell Allahabad Bank, target Rs 65: Rahul Shah

Rahul Shah of Motilal Oswal told CNBC-TV18, "If you look at overall auto pack, two wheelers have outperformed and TVS Motor has managed to do well, so there is no negative signal, no major shorts getting build-up in the stock. The correction what has happened is done now at these levels. So I feel that from current level of Rs 273-274 it makes good sense to buy at these levels with a stop loss of Rs 265 with a target of Rs 290." "I think most of the public sector undertaking (PSU) banks, the smaller and mid-sized banks saw good amount of shorts in last two-three days. So in yesterday's session we saw more in Allahabad Bank, Canara Bank as well as Bank of India but weakness is going to be more in Allahabad Bank. So I would give a sell call recommendation on Allahabad Bank with a stop loss of Rs 73 for target of Rs 65," he said."Larsen and Toubro (L&T) has been showing a negative divergence. So same thing can be repeated in midcaps as well. So I feel in IRB Infrastructure Developers lot of unwinding can happen from current level, with a strict stop loss of Rs 248, I would recommend shorting it with a target of Rs 230."