Ashish Kyal of wavesstrategy.com told CNBC-TV18, "I have a sell call on BEML. The stock has formed a clear head and shoulder (H&S) pattern and has given breakout below the neckline as well. So there is a possibility that it might rush back towards the target of Rs 915, so one can sell short BEML at current market price (CMP) keeping a stop loss of Rs 1,040 and target will be Rs 915 on the downside.""The next sell call is on Federal Bank. We can see that there is some nervousness in the banking stocks today and Federal Bank has been one of the major underperformer and even if there is minor pullback, I do not see the stock to be doing any exceptionally well on the upside. This is an ideal stock to go short on; keeping a stop loss at Rs 48.50 and the target can be expected at Rs 38 which is coming close to the lower end of the channel," he said."I have a short call on Colgate Palmolive. This stock is moving in a lower high lower low formation which is a clear indication that the trend is negative even when the Nifty managed to bounce back towards 7,000-7,060, this stock still formed a lower high, so the trend is negative on Colgate Palmolive and it is underperforming if you look at the ratio chart as well. So one can sell this stock keeping a stop loss of Rs 860 and the target can be expected at Rs 775 on the downside." "I have a buy call on Aurobindo Pharma given the fact that it has managed to outperform and it was positive in today's session. So there is a possibility we might see it going towards level of Rs 820. Also the short-term 20-period moving average is providing good support to the prices and it has bounced back from there couple of times. So it is better to be on the long side in this outperforming stock and maintain a stop loss of Rs 700 and the target can be expected at Rs 820 but one should use a strict stop loss and closing today is going to be crucial. If we close around this zone on Nifty then I am not too optimistic over short-term," he added.
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