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Stock Recommendation 
ABB - Sell
The stock has more downside. It has resistance at 800-820 levels and the short term target is in the range of 600-650. Sell on rise. The company’s sales are expected to grow in single digits and the margins are likely to be under pressure.

Power Grid Corporation of India Ltd- Sell
The charts show weakness in the stock. There is no major upside. A bounce back is likely but that will lead to more supply.The power sector has underperformed and the trend is likely to continue. Sell on rise at 95-96 levels.

Housing Development & Infrastructure Ltd - Sell
The stock has been correcting for the last four quarters. It fell 22 per cent in the last week alone when the realty funding scam was exposed. There is a strong bear grip on the stock. There are no accumulation patterns or signs of a trend reversal. A dead cat bounce is possible. Sell in a staggered way.The outlook on the real estate sector is negative. The company has been battered by the realty funding scam. Sell in a staggered way on every rise.

Jindal - hold
The stock has been range bound between 600-750 in the last four quarters and has underperformed the markets. The stock’s outlook is negative over the medium term but it is a hold in the long term.The future outlook of the steel industry is good and the company is doing well. But the company’s outperformance comes from the power side where the company has done exceedingly well.


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