Short Synidcate Bank, Bank of India: Manas Jaiswal

Manas Jaiswal of manasjaiswal.com told CNBC-TV18, "I am very much bearish on overall banking space because of head and shoulder pattern in banking space. So, one can go short in Syndicate Bank or Bank of India. Both stocks are looking very weak on the charts and these stocks can give around 2-3 percent downside in next one or two trading sessions."

At 14:31 hrs Syndicate Bank was quoting at Rs 83.10, down Rs 1.45, or 1.71 percent. It has touched an intraday high of Rs 86.30 and an intraday low of Rs 82.25.

The share touched its 52-week high Rs 137.60 and 52-week low Rs 61.05 on 21 May, 2013 and 20 August, 2013, respectively. Currently, it is trading 39.61 percent below its 52-week high and 36.12 percent above its 52-week low. Market capitalisation stands at Rs 5,190.30 crore.

Disclosure: He does not have any positions in the stock.