Sell Bharti Airtel, Bajaj Finserv may head lower: Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "Bharti Airtel is a sell, it is the counter-intuitive trade in the sense that yesterday the stock performed pretty well and yet I am giving a sell call. The reason behind that is Bharti Airtel in the last four months, whenever it tries to cross the 50-day exponential moving average, it did not succeed and it failed and yesterday it tested that 50-day moving average. So given that kind of a scenario what I would suggest is that yesterday's high would not be taken out and that should be your stop loss. I am accepting it to come down from now. It is likely to fall to something like Rs 323.50. That is the first stop, it could even go down to Rs 318. Put a stop loss above Rs 335.""Yesterday, Bajaj Finserv has showed a breakdown. In fact, some of the financial stocks are suggesting breakdowns. Bajaj Finserv is one among them, others are HDFC and Indiabulls Housing Finance. My stop loss should be Rs 1,680 and since I am expecting a large move on the downside, I have kept a pretty strict stop loss while Rs 1,575 and Rs 1,552 are the two targets. If the downside momentum gathers strength then it would go further down," he added"Federal Bank was hitting 50-day moving average (DMA) and this time, it has tested it yesterday. So, I would keep a stop loss slightly above Rs 51.10 and target should be Rs 47.50 and Rs 46.50.""MCX India looks pretty good in fact, the stock has given a reversal signal yesterday on the daily charts. Keep a stop loss below Rs 775 and once it gets going, it gets good momentum and that momentum is likely to be visible once it trades above Rs 805-806 levels. First target is Rs 820 and second target is Rs 850, put a stop loss below Rs 775.""In Asian Paints, I would put a stop loss just below Rs 860-859 and the targets are Rs 892 and Rs 904. Above Rs 900, Asian Paints is unlikely to sustain."