Above Rs 17, short Sunflag Iron: Vasudeo

Technical Analyst, Hitendra Vasudeo is of the view that above Rs 17 Sunflag Iron and Steel provides a good short-term opportunity.

Vasudeo told CNBC-TV18, "Today, there was a good jerk in Sunflag Iron and Steel with volumes during the day. For the time being, for a breakout above Rs 17, there is some resistance, which got generated as a result of the up tick in the morning and then, as the market slid down right now. So above Rs 17, it can provide a good short-term opportunity. So one needs to wait for that breakout. If that happens today or tomorrow, then one should be able to take a short-term trading call."
 
Disclosure: Analyst doesn't hold the above stock but have recommended to the clients.