Sell BEL, Jubilant Foodworks, Kotak Mahindra Bank: Manas Jaiswal

Manas Jaiswal of manasjaiswal.com told CNBC-TV18, "I am bearish on BEL because the stock was facing a lot of resistance near Rs 1,250 for last two-three weeks. Yestrday it fell sharply and broke the support of Rs 1,200. Today it broke its 200-day moving average (DMA) also. So possibly we may see further downside in BEL. It can test Rs 1,100 mark soon. So one can go short with a stop loss of Rs 1,175.""Second stocks is a sell on Jubilant Foodworks. It was making lower tops and lower bottoms from the level of Rs 1,600 but for the last 20 trading sessions, it was taking support near Rs 1,150. Today it broke that support with higher volumes. So possibly we may see further downside in the stock. It can test Rs 1,020. So one can go short with a stop loss of Rs 1,140," he said."One can also sell Kotak Mahindra Bank. It was moving sideways in the range of Rs 690-660 for the last three weeks but today it broke the support of Rs 660 with higher volumes. So possibly we may see further downside in Kotak Bank. It is trading below 200-DMA, so possibly it can test Rs 630. One can go short with a stop loss of Rs 665."