Pritesh Mehta of IIFL told CNBC-TV18, "Century Textiles and Industries made a peak of Rs 790- 800 in the month of April. However, that appears to be a distant memory now because thereafter we had seen a sharp correction. At lower levels it found support and just two weeks back it had a breakout from a triangle pattern. However, it failed to sustain at higher levels and came crashing down. In the process it has also given a breakdown from a bearish head and shoulder pattern. So, sell the stock for a target of Rs 565."
"Aurobindo Pharma had a tremendous rally in 2013 and even better rally in 2014. However, in 2015 it is struggling to sustain above Rs 1400. Because of this inability to sustain at the top, it has created some sort of topping out pattern which I feel that has come to a conclusion because a close below Rs 1270 will lead to a further negative bias in the counter. So, Aurobindo Pharma looks bleak on the charts and we can see levels of Rs 1200 going forward," he added.
Disclosure: Analyst may have recommended the trading ideas to his clients but has no personal holdings.
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