Sell Federal Bank, says Kunal Bothra

Kunal Bothra of LKP Securities recommends selling Federal Bank as the stock may test Rs 115-120 over the next one-two weeks.

Kunal Bothra of LKP Securities told CNBC-TV18, " Federal Bank is a sell. The stock is trading below 200-day moving average. Four or five days back it broke 200-day moving average and attempted to break the average on the upside once again but it failed and now it is coming back to test it's low. So it is a good sign or good confirmation that the stock may start fresh short-term downtrend."

"I am looking at 10 percent downside from current level, so probably levels of Rs 120-115 could be possible on Federal Bank over the next one-two weeks. I would keep a stop loss of Rs 134 which is exactly 200-day moving average," he said.

Disclosure: Analyst has no personal holdings in the stock and it is possible that he may have recommended the same stock to his clients at LKP.

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