Jul 20, 2013 02:58 PM IST | Source: CNBC-TV18

Sell Financial Technologies, says Sudarshan Sukhani

According to Sudarshan Sukhani of s2analytics.com, one may sell Financial Technologies as the stock is breaking all kinds of support levels and may head much lower.

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Financial Technologies is a high conviction sell. It has been in a bear market of its own and has been falling. We have had a sell on it many times earlier, that decline continues. At Rs 600, it is now breaking all kinds of support levels so I would expect it to go much further down. It is a waterfall decline really."

"For short sellers, it is a very good stock to go and sell. The upside is protected in the sense that it is not likely to go up. If the market tanks a little also and if the Nifty weakens just a little bit this one could weaken much more," Sukhani said.

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