Sell IRB Infrastructure Developers on rally: Sukhani

Sukhani told CNBC-TV18, "On IRB Infrastructure Developers Rs 110 would be a reasonable target. On Friday it was trading at Rs 127. I would expect it to slide by another 15%. Once stock breaks the support levels however good the charts may have been earlier they are abandoned. So there is no buying here. It’s a short sell on any small minor rally and much more levels on the downside."

He further added, " VIP Industries was already under lot of bear pressure. It was just going through a relief rally and it had fallen before the earnings. The trend is down. On VIP we are looking at Rs 75, maybe Rs 78. But in case of VIP the downside could be limited at least for the time being because the stock again needs to consolidate and then decide where it wants to go. So the trade in VIP should be with some reasonable profit targets, do not expect a big move down."