Short Tata Motors, PNB may test Rs 70; L&T Fin looks weak: Gaba

Prakash Gaba of prakashgaba.com told CNBC-TV18, "L&T Finance Holdings is looking weak, in fact the move that we had seen yesterday, the intraday structure suggests that much more downside is here. It can even slide to levels closer to around Rs 50 zone. Have tight stop loss above Rs 55, still deep cut is available in the stock." "Punjab National Bank (PNB) has broken down with a gap and after a sideways consolidation and it tells me that it is not over as yet. There is much more downside available in the stock. Possible target on the downside could be in the vicinity of Rs 70, keep stop loss above Rs 86," he said."Tata Motors is looking weak. On daily chart it gives me a feeling there is much more downside. So, Tata Motors can slide down to levels closer to around Rs 280. Once it goes to Rs 280, it can go to Rs 275, I would have a stop loss on Tata Motors above Rs 301 and trade short."