Stock ideas from Anand Rathi: Sell Bajaj Finserv, Mahindra & Mahindra

Mahindra & Mahindra's stock has provided a breakdown from a rising wedge pattern on the daily chart

SELL NIFTY | TARGET: 8,500 | STOP LOSS: 9,050 

Nifty continued its lower top and lower bottom formation where it has also provided breakdown from head and shoulder pattern. The conservative target for this pattern comes around 8,500 and immediate resistance of the neckline is placed near 9,050 levels. Now, as long as Nifty trades below these levels, every bounce should be utilized as a selling opportunity. The momentum indicator RSI has also slipped below 50 levels which shows that Nifty is losing strength and we may see further selling pressure going forward.

SELL BAJFINSERV | TARGET: Rs 4,320 | STOP LOSS: