See downside in ICICI Bank , says Sudarshan Sukhani of s2analytics.com.
Sukhani told CNBC-TV18, "ICICI Bank has fallen a lot. State Bank had a gap up, it rallied up but ICICI Bank did nothing and yesterday it opened higher and then went on drifting down throughout the day, so there should be some follow-through on the downside. In a choppy market we will have up and down stocks and ICICI qualifies as a down stock."
He further added, " TVS Motor is in some kind of a trading range although I have said that it's not easy to trade it but in case TVS there are clear signs that the rally, a very brief rally is faltering and we will see a decline. So on TVS I have a target of Rs 56 or maybe Rs 55 for it on the downside, it's a short-term target but at this point it's not a buy at all even for position traders."
Disclosure: I have no personal holding in the above stocks.
