Short Syndicate Bank, advises Manas Jaiswal

Manas Jaiswal of manasjaiswal.com told CNBC-TV18, "The Bank Nifty has made a bearish engulfing pattern on the weekly chart last week. Today it has broken an important support of 18,100. So, it will underperform Nifty in next three to four trading sessions. It can go down to around 17,500."

"Syndicate Bank fell below 50 day moving average few days back. Today it broke 200 day moving average also and right now it is trading below its important support of Rs 120. So, the stock can go down further, it can test around Rs 110 in next two to three trading sessions. So, one can go short with a stoploss of Rs 126," he said.

Disclosure: Analyst has no personal holdings in the stock but has recommended the stock to his clients.