Sell Godrej Consumer Products, CSEC: Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "GAIL India in the last half an hour saw a massive selling and that is what I saw on the intraday chart. So, I would say that GAIL, although closed at Rs 370.45, I would prefer to sell only when it goes below Rs 367. I would put a stop loss above Rs 370 for the simple reason that it showed a lot of volume activity between Rs 370 and Rs 372 and targets would be Rs 361 and Rs 359.""The problem with Godrej Consumer Products is that Rs 1,500 to about Rs 1,590 in my reckoning would be a supply zone. It will be at least sometime before it absorbs the supplies around those levels and then move up further. As of now, there is an evening star like formation that is likely to go down. So from that perspective, I have given it a sell. The target would be Rs 1,440 and my stop loss would be Rs 1,502," he said."Eicher Motors is likely to show a retest of its 200-day moving average which is around Rs 18,100 kind of levels. So, Rs 18,100 to about Rs 18,000 is a major support area for the stock. It is likely to retest once again. Yesterday’s last 30 minutes of selling in Eicher Motors showed that it still has a lot of supplies to absorb.""Final sell is on CESC. The stock actually has broken a short-term trendline and it has done with good volume activity as well, so targets are Rs 535 and Rs 523 and you put a stop loss above Rs 554," he added."Dr Reddy's Laboratories is one stock that has been on a clear uptrend and I believe the tailwind is still there, at least to test its 200-day exponential moving average which is above Rs 3,200. So, I have two targets Rs 3,200, Rs 3,210 and Rs 3,232. Rs 3,235 or so is the 200-day exponential moving average. So I am expecting a retest of that and you put a stop loss below Rs 3,155 since there has been a lot of volume activity between Rs 3,170 and Rs 3,160. So, I have put a stop loss there at Rs 3,155."