JSW Steel, IDBI Bank likely to fall further: Sukhani

Sukhani told CNBC-TV18,” JSW Steel had some significant support levels at Rs 675. I have referred earlier to so many companies which have broken down support levels from the charts and same thing here, Rs 675 has been cracked. The current target for this decline is Rs 560 and that may not be the end of the down move.”

He further added, “ IDBI Bank has been a big disappointment. It never participated in the banking rallies. It was an underperformer. It has gone below Rs 100. It’s now staring at a target of Rs 82 in the short-term. It’s a short sell. It cracked from significant support levels so Rs 82 maybe a short-term target but if this carnage continues that won’t hold.”