HDFC Bank may slip further to Rs 410, says Sudarshan Sukhani, s2analytics.com.
Sukhani told CNBC-TV18, "This market is sliding down. We are making those lower highs not only in the Nifty but in most of the best of the blue-chips, most Nifty heavyweights. HDFC Bank is doing the same thing, banks are now cracking and I get the impression that finally HDFC Bank is almost right for a big decline. So this is a short term trade. The trade here is to go short, look for modest target for Rs 410 or so but the thrust is on the downside now."
He further added, " TCS , we are short term traders and we are looking for events that will occur during this week. I suspect TCS as well as its sisters - Infosys and Wipro are going to see lower level before they start publishing their results. Charts are suggesting that TCS is right for a correction. How deep- is something for the market to decide? But if there is a correction, short term traders can well take advantage of it, look for Rs 1130 or even Rs 1100 on the downside if the correction is deep enough and there is a short sell here. It can also be taken using puts so that's an advantage."
