Jitendra Panda, MD & CEO at Peerless Securities told CNBC-TV18, "I believe Hindalco Industries has given a breakdown; the cyclicals are looking weak. So we can give a sell on Hindalco and we could see prices of Rs 104 also maybe for today or maybe even February but today also it looks that the Hindalco stock will be weak."
He further added, "LIC Housing Finance has broken down. If you are looking for February series that will be another one on which you can take position now also. The stock has gone below 100-day moving average (DMA) and short positions have been built, long unwinding is happening. You keep the stop loss at Rs 205 and Rs 180 could be a target there. It is looking weak."
"In banking sector, ICICI Bank is one where we have seen it going down below Rs 1,000-1,010 levels. It has cracked down today, gap-down opening but Rs 950 is short-term target. There could be a sell off at the end because a lot of long positions were holding on for the results and today with the gap down opening ,stop loss are getting triggered, so I believe Rs 950 could be seen."
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