Sell Century Textiles, JSPL, Bajaj Auto: Shardul Kulkarni

Shardul Kulkarni of Angel Broking told CNBC-TV18, "My view on the market is bearish and going forward one might see significant declines. So I would look at selling Century Textiles and Industries. The stock clearly shows a very strong head and shoulder breakdown formation and going forward one might see lower levels. So Rs 245 is the target price that I would look at and Rs 270 would serve as a decent stoploss. Selling below Rs 264 on the December Futures contract I think would be a logical trade."

"I would be bearish is Jindal Steel & Power (JSPL) where I think the chart structure has clearly given a reversal formation. And I think on the upside Rs 270 would be a stoploss in the stock. I would expect the stock to move to Rs 248-250 over the next couple of trading sessions," he said. "Bajaj Auto is the third sell on the list in which we have seen that the formation is a clear lower top lower bottom and I think yesterday’s price action suggests that the stock has finally given up, the bulls have clearly given up and further lower levels might be coming. So Rs 1840 is the target price that I would look at in Bajaj Auto. Resistance zone would be at Rs 1980-1985 beyond which one should not hold short positions."