Exit M&M, GAIL India: Sukhani

Sukhani told CNBC-TV18, “No it should move down and Mahindra and Mahindra is already trading at new lows for this downtrend, that’s not good news. So I would say that one should get out. There is no substitute, auto stocks are weak and M&M is particularly weak. It’s not a trading bet on the long side.”

He further added, “ GAIL India  charts are very dismal so you don’t average, that’s advice number one. The chances are that it’s almost at its lows, it can go another 15% from here, and you have to have the patience. My advice would be that whenever you see a good rally in GAIL you get out of it. Don’t expect any gains or any big profits, so wait patiently when the market rallies in the next few months. You will have an exit opportunity and then get out.”