Short Hero Motocorp; PNB can test Rs 100: Prakash Gaba

Prakash Gaba of prakashgaba.com told CNBC-TV18, "Punjab National Bank (PNB) certainly is looking weak, It has traded from Rs 150 zone to Rs 120 zone and then tried to consolidate. In fact instead of going up it turned down. So, I would say there is a deep cut available on Punjab National Bank, a very good chance that PNB can slide down levels closer to Rs 105 or even Rs 100 is possible in the days to come. One should have stop loss above Rs 117.""Hero Motocorp is also looking weak, in fact yesterday there was a sell out. The move that we saw yesterday was a breakdown gap. It tells me that there is much more deep cut available here. Possible targets on the downside is in the vicinity of around Rs 2,600. I would have a stop loss about Rs 2,670 on Hero Motocorp and trade short," he said."I am not very comfortable with the pharma pack. I would certainly not buy that is what I decided for the January month. To my mind Sun Pharmaceutical Industries certainly is looking weak. It has given some kind of initial sell signal. A safer sell here, because stop loss is above Rs 815 and downside target could be in the vicinity of Rs 775. Once it goes there we could find some more target on that downside but looks like it is turning, it is a safer bet to short here.""GAIL India is much better sell because when I look at the structure it tells me it have got exhausted in the upper regions. I will prefer to short again, looks like it is heading down to levels closer to Rs 350, couple of days give some more days and even Rs 340 is possible. So, only thing is where do you put a stop loss, stop loss needs to be above Rs 370 and trade short. Looks like a good sell, looks like it is falling.""I would say that perhaps CESC is looking okay. If it has to go up it can go up from here. I would have a very tight stop loss below the levels of around Rs 519 or so and expected to climb to levels closer to around Rs 536. On the short side, this looks like a fake upmove. So, I would say that on Nifty even it is climbs up to 7,900 it would be a shorting opportunity. Only thing is stop loss needs to be very deep and one should not trade for a day trade. It needs to traded for a couple of days." "Bank of Baroda looks weak to me, in fact one could have a stop loss above Rs 150 and trade short. Does it go to Rs 145,144, 143, yes it is good possible, it is going there as long as one maintains a stop loss." "Divis Laboratories is another stock that looks weak to me. One could have a stop above the levels of Rs 1,150 and trade short. Possible target of the downside could be in the vicinity of Rs 1,120 or 1,100 in the days to come.""In Karnataka Bank, possible target on the downside could be in the vicinity of Rs 118 and stop loss above Rs 122."