Prakash Gaba of prakashgaba.com told CNBC-TV18, "Most of the stocks are looking weak. HDFC Bank has started the down move right away. Possible target on the downside could be in the vicinity of Rs 1,400 zones. One could have a stop loss above Rs 1,425 and trade short. Even Rs 1,390 is possible on HDFC Bank."
"Reliance Industries is the stock I have a sell today. It can slide down to levels closer to Rs 1,240 and keep stop loss above Rs 1,280. Possible that it can go lower as well, but the move has just started now," he added.
Disclosure: Reliance Industries owns Network 18 that publishes Moneycontrol.com.
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