SAIL may slip to Rs 70: Shardul Kulkarni

Kulkarni told CNBC-TV18, “At the current juncture I would not advice shorting. However, definitely the metal counter looks quite weak. The metals have been battered down very badly over the past couple of trading sessions. I think that going forward you will see a small bounce, if you see that bounce you should be looking at selling into the bounce."

He further added, "If SAIL moves towards Rs 81 I think that would be a good time to go short in case of SAIL. In metal counters as I said all look weak, SAIL is the weakest. I would expect the stock to move to around Rs 70 in the near future.”