Sell HDFC Bank, target Rs 940: Gaurav Bissa

Gaurav Bissa of LKP Securities told CNBC-TV18, "If you look at last two day as the kind of a selling in HDFC Bank, consistent small amount of shorts that have been build in the stock not aggressively but consistent short positions are seen getting build. With the kind of underperformance related to Bank Nifty also there is chance that it may go towards Rs 940 kind of levels. Below Rs 940, I see aggressive shorts happening because that will be a down point fall for HDFC Bank. So, for target of Rs 940 and with a stop loss of Rs 985 one can initiate a sell on the stock."At 12:30 hrs HDFC Bank was quoting at Rs 971.00, down Rs 3.20, or 0.33 percent. It has touched a 52-week low of Rs 962.50.