Short GAIL India on rally, says Sudarshan Sukhani of s2analytics.com.
Sukhani told CNBC-TV18, "GAIL India rallied from Rs 330 to Rs 390 and we felt that the uptrend is starting and it crashed down back to Rs 330-335. What is going on is difficult to say and difficult to answer but the stock is a short sell. Any rally should be used to go short."
At 09:44 hrs GAIL India was quoting at Rs 336.35, up Rs 0.70, or 0.21%. It has touched an intraday high of Rs 337.60 and an intraday low of Rs 335.
The share touched its 52-week high Rs 401 and 52-week low Rs 303.10 on 16 February, 2012 and 18 May, 2012, respectively. Currently, it is trading 16.12% below its 52-week high and 10.97% above its 52-week low. Market capitalisation stands at Rs 42,665.24 crore.