Crompton Greaves has target of Rs 123: Sukhani

Sukhani told CNBC-TV18, "We had that big decline in Crompton Greaves in May-June last year because of that news. It recovered and I thought maybe that bear market in Crompton is over and this recovery is the beginning of a new up move. There was money on the upside - that money was also made. But clearly that was not so."

He further added, "We have these relief rallies which can be looked give the image of a bullish move but they are just that. Just their corrections in an ongoing bear market - that seems to have happened with Crompton. Crompton is now a short sell. It’s not the first time. It is becoming a short sell again and again. Look for a target of Rs 123 and with some regret I think it is going to break below Rs 100."

" GMDC is a reversal play, which means it has been range bound and came to the lower end of its range. At the lower end on Friday, it did some nice interesting things and I am ignoring Saturday session. So it’s quite possible that we may see a bounce, if not anything, at least to the higher resistance levels. Or if this is a change of trend then we will know after some days."

"But in either case, GMDC is offering a low risk buying opportunity. It is standing at support and has just begun a small upmove, which could take it another 15-20 points on the higher side. It is at Rs 192-195, we could take profits and trade this range."