SENSEX NIFTY
Aug 08, 2013, 10.45 AM IST | Source: CNBC-TV18

Sell Axis Bank on rally, says Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com recommends selling Axis Bank on rally as the stock may move lower.

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, " Axis Bank is going lower. For today also if one sees any kind of a minor rally, sell it. There was a small two-three day rally in Axis Bank and that was a perfect selling point and now it is on the verge of a breakdown. Therefore, it is going much lower like ICICI Bank is doing."

"However, rather than discussing all banks, I would say that public sector undertaking (PSU) banks in general are short sell and Axis Bank for today is an ideal opportunity because it is mildly higher for the last two-three days," he said.

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