Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "We have been selling Jindal Steel and Power (JSPL) since Rs 600 rather Rs 650. It is amazing how the stock has taken a single directional move. There was one correction in-between on the upside, otherwise it is doing the same thing as Sterlite is doing."
He further added, "JSPL is on a much larger scale, there was a small consolidation and that consolidation broke down on Friday. It suggests that lower levels are coming and if there is a gap up or a rally today, it is even better because one is selling in strength. The trade is clear, we want to sell it."