Jun 10, 2013, 08.10 PM IST
According to Sudarshan Sukhani of s2analytics.com, Gujarat State Petronet is a short sell.
Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "It is a very disappointing chart. Gujarat State Petronet ( GSPL ) was one of those erstwhile favourites which could do no wrong. There was so much hype associated with it. Now the exact opposite has happened. It was in a small trading range and that range took the shape of a descending triangle."
He further added, "After a big decline, a descending triangle is a bearish pattern and suggests that there is much more downside left. GSPL is a short sell. The metals including GSPL, the petrochemicals are not going to do what the Nifty could do today or for the next two-three days."
Action in Gujarat State Petronet
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