Arvind may come down to Rs 60, says Sudarshan Sukhani of s2analytics.com.
Sukhani told CNBC-TV18, "When Arvind came down to Rs 85 I explained that this is not a buy on dips opportunity but this is just midway in an ongoing downtrend. It's already cracked Rs 80, the support levels. Arvind was declining yesterday; I suspect we can see a strong downward momentum today, there will be some gap but even inspite of that there is a trade for the day, there is a trade for position traders because the eventual target for this pattern should be somewhere around Rs 60."
He further added, "I would certainly not sell Sun Pharma , its very difficult to say there are some stocks which are good on the charts which are certainly not selling opportunities but if the Nifty fell 100 points today then Sun Pharma is not going to be left aloof but if there is any opportunity to go long in a stock Sun Pharma qualifies for that. So I would be a willing buyer if the market gives me sign okay I am not going down any more. Sun Pharma should see new high sooner or later so it should be on anyone's buy list."
