Sell GAIL India, recommends Sameet Chavan

Sameet Chavan of Angel Broking told CNBC-TV18, "Recently, in the last one to one and a half months, we have seen a smart recovery in GAIL India from the lower levels of Rs 260-270. However, the stock is now trading around its major resistance zone of Rs 325-330. Considering the recent rally of nearly 25-30 percent from lower levels, we believe that this important resistance level is likely to act as a major hurdle at least for the next few days.""Looking at the overall daily chart structure, we believe that there is a possibility of some profit booking in GAIL India. Thus we have a sell recommendation with a stop loss of Rs 333 and we have an immediate target of Rs 312," he added.