Jan 17, 2013, 01.40 PM | Source: CNBC-TV18
Sudarshan Sukhani, s2analytics.com is of the view that short term trader should exit Pantaloon Retail, the stock may slip to Rs 230.
Sudarshan Sukhani (more)
Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical
Sukhani told CNBC-TV18, "Somebody bought Pantaloon Retail and then it started cracking, the ideal situation would be to take the loss and get out. Now, it is already coming down breaking a support level. So the downside target is Rs 230. For a long-term trader, I would say do not worry, Pantaloon’s charts are very attractive now. But for a short-term trader, there is no guarantee that January 31 will see rallies or it will see Rs 230. My advise is the chances are that a pullback to Rs 255-260 is possible. If that happens, you exit.”