Apr 12, 2012 12:13 PM IST | Source: CNBC-TV18

Short Jain Irrigation: Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can short Jain Irrigation.

Sudarshan Sukhani of s2analytics.com is of the view that one can short Jain Irrigation.

Sukhani told CNBC-TV18, "Subex has a chart that suggests buying is possible but this stock hasn’t done anything. It goes and moves up and down in a trading range. Purely on charts, I would say its buy but generally on a selection I wouldn’t select it in my list."

He further added, "Jain Irrigation is a short sell; it is a very big disappointment. All the time there is a sense that it is going up and it’s coming out of hibernation and finally moving into a bullish territory but then it absolutely collapses. The stock has been on a downtrend for some weeks now, the rally fizzled out. Every time it tries to move up there is a very small rally and there is significant selling pressure comes back. So, Jain Irrigation is a short sell because here the trend is clearly down."

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