Expect 15-20% declines in Sterlite Ind: Sukhani

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Expect 15-20% declines in Sterlite Ind: Sukhani

Expect 15-20% declines in Sterlite Ind, says Sudarshan Sukhani, s2analytics.com.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by Sudarshan Sukhani See what other Experts & Brokerages are saying about Sterlite Ind See messages about Sterlite Ind

Expect 15-20% declines in Sterlite Ind , says Sudarshan Sukhani, s2analytics.com.

Sukhani told CNBC-TV18, "The Sterlite Industries chart looks bad in a sense that a rally from Rs 85 to Rs 120 has already come about and today's decline is just in addition to the declines we saw for two days now."

He further added, "The bear market rally in Sterlite is over, the chances are that it's going to resume its down trend and go through a test of Rs 85. Then we will see whether Rs 85 holds and which it should and that will be the time to buy, but currently we can expect a 15-20% decline."