Short SAIL, Adani Power; Biocon may hit Rs 410: Gaba

Prakash Gaba of prakashgaba.com told CNBC-TV18, "Metal is looking weak, I don’t like the internal structure of SAIL. The way it is trading, looks like there is some more downside available. Possible target on the downside could be in the vicinity of Rs 30 may be today or tomorrow and I would have a stop about Rs 38 and trade short.""Adani Power's structure is weak. It has confirmed the down move. So, the stock can slide down to levels closer to around Rs 20 zone, would have a stop loss at about Rs 26 and trade short," he said. "Biocon is weak, so it can can slide down to levels closer to Rs 410, keep stop loss above Rs 453." "All oil marketing companies are looking weak. I just chose HPCL today. It can slide down to levels closer to around Rs 650, keep stop loss above Rs 707."