Pantaloon Retail a positional sell, says Sukhani

Sukhani told CNBC-TV18, “Voltas is a disappointment. I think after that report, Voltas has been underperforming and probably will continue to do so till either the view changes or a lot of selling has exhausted itself.”

He further added, “Pantaloon Retails was already down. It was also sell suggestion yesterday and that is going down is not a surprise. The chances are that it will go drift much lower, it’s a positional sell.”

“Banks are underperforming. Some of them have done well mainly because the market itself or the bank index is in a very narrow trading range. In a narrow range when there is no trend, some stocks go up and some go down and that broadly creates the small range, so I wouldn’t. Dena Bank although its one of the better banks or UCO Bank there is nothing to justify buying. The Nifty must go up and give an affirmative signal that whatever correction was there, whatever trading range was there is over and I am willing to go up, that’s the time when serious buying should be considered.”