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We recommend a sell in ING Vysya Bank from a short-term perspective. It is clearly visible from the charts of ING Vysya Bank that it has been on a medium-term downtrend from its 52-week high of Rs 389 (marked on January 2, 2008 ). We see that on March 17, the stock broke through the support level of Rs 300 and closed below the 200-day moving average by declining 7 per cent. The daily momentum indicator has entered the bearish zone from the neutral region. The daily moving average convergence divergence also entered the negative region from the positive territory. Taking into consideration the strength of the stock’s medium-term downtrend, we are bearish on the stock for the short-term. We expect the stock’s medium-term downtrend to continue to our target price level of Rs 250 in the short-term. Investors with a short-term perspective can sell the stock while keeping the stop-loss at Rs 302.

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