Sell Sun Pharma, LIC Housing Finance: Sameet Chavan

Sameet Chavan of Angel Broking told CNBC-TV18, "Considering the ongoing momentum in the market we are focusing more on weak counters that can correct further. Hence we have two short recommendations. Sell Sun Pharma with a stoploss of Rs 943 and target of Rs 875. Although the stock is trading in a strong uptrend we feel that Rs 960-970 is a strong resistance for the stock. It corrected and broke down below the rising wedge pattern and looking at the negative placement of daily momentum oscillators, we expect the stock to correct towards Rs 875 over the next few trading sessions."

"Sell LIC Housing Finance with a stoploss of Rs 470 and target of Rs 434. The stock is convincingly trading below its daily 20 exponential moving average (EMA) which is a sign of weakness considering the negative placement of weekly RSI oscillator. We expect the stock to correct towards Rs 434-430 over the next few trading sessions," he said.