Sudarshan Sukhani of s2analytics.com is of the view that Adani Enterprises may slip to Rs 320.
Sukhani told CNBC-TV18, " Adani Power and Adani Enterprises are doing the same things. They are underperforming. Adani Enterprises made a classical chart pattern, a double top and broke down below it. Let's say that it was a slightly better candidate for going and selling, although probably you could go and short both of them. Adani Enterprises is now in a downtrend confirming a bearish pattern and looking at a target that's at least 10-15% lower eventually. I think it should come down to Rs 338 even Rs 320."
He further added, " Aurobindo Pharma was bit of a disappointment because I thought maybe this big bear market in Aurobindo Pharma is getting over, but for now it seems that it faced lot of resistance at the Rs 120 level and that resistance is holding. Momentum has turned down; the short-term trend has turned down. So the signs are that the value may or may not have been the reversal of the bear trend, if not this stock is going to go into dip trouble. We will find out that, at least for now there is a short trade here. It's also a positional short."
