Sell Indiabulls Housing Finance, Maruti Suzuki: Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "I have a sell on Indiabulls Housing Finance because there is a moving average convergence and that is bearish convergence and generally these bearish convergences do work pretty well. So, I would be selling on any rally with a stop loss above Rs 648 and I would be looking at targets of about Rs 618 to about Rs 602." "If at all there is kind of a correction below 7,450, I think the housing finance companies would be under severe attack by the bears. Indiabulls Housing, HDFC, and LIC Housing Finance would be the prime targets there. So, Indiabulls Housing for me is a sell," he said."The rationale for Maruti Suzuki is the end of day pattern. Whenever from the day’s opening you see a high much higher price and the close is much lower even from the open and the high, that kind of a chart pattern on Maruti never fails. So, Maruti, even if it were to move up initially given the sentiment or for whatever reasons but it would attract selling pressure. The chart pattern also suggests that this is a kind of an arc pattern, left side is already done, right side is about to open up. So Maruti is likely to go down and I would be selling the stock." "My stop loss would be above Rs 3,670. On the downside, Rs 3,594 to about Rs 3,555 would be the two targets for the day. These are day targets and they could be extended if Maruti falls further."