Sell LIC Housing, PNB, Voltas; buy Tech Mahindra: Malkan

In CNBC-TV18's popular show Bull's Eye, Meghana Malkan of malkansview.com shares her trading strategies for the day.

One may sell LIC Housing Finance. The stock has been showing signs of weakness since the last three to four trading sessions. Momentum too in the daily charts has begun slowing down. Yesterday it closed below an important support of Rs 205 with a big black candlestick pattern. So I would recommend a sell with a stoploss of Rs 205.50 for a lower target of Rs 196. One may sell Punjab National Bank (PNB). The stock formed a bearish candlestick pattern yesterday. Weekly momentum is showing signs of bearishness. The stock is finding it difficult to cross Rs 510. So I would recommend a sell with a stoploss of Rs 490 for a lower target of Rs 462. One may buy Tech Mahindra. Overall this has been a very strong stock throughout. So any dips in the stock could be used as opportunities to go long in it. Daily momentum is also at support, so I would recommend a buy with a stoploss of Rs 1,500 for a higher target of Rs 1,545. One may sell Voltas with a stoploss placed at Rs 85.30 and a target price of Rs 80.50 odd.