Sell Mahindra and Mahindra: Sudarshan Sukhani

According to Sudarshan Sukhani of s2analytics.com, one may sell Mahindra and Mahindra (M&M) as the stock broke down after consolidation.
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Sep 03, 2013, 10.07 AM | Source: CNBC-TV18

Sell Mahindra and Mahindra: Sudarshan Sukhani

According to Sudarshan Sukhani of s2analytics.com, one may sell Mahindra and Mahindra (M&M) as the stock broke down after consolidation.

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Sell Mahindra and Mahindra: Sudarshan Sukhani

According to Sudarshan Sukhani of s2analytics.com, one may sell Mahindra and Mahindra (M&M) as the stock broke down after consolidation.

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Sudarshan Sukhani (more)

Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "I don't think fundamentals influence the market in the short-term, we keep talking about them through out the day but it is irrelevant completely. But for the technicals I am surprised because auto sector as such should be cheerful. Hero Motocorp and Bajaj Auto are looking very nice on the charts."

" Mahindra and Mahindra (M&M) is doing the exact opposite. It consolidated yesterday and broke down from the consolidation. It is very worrying, it is showing poor relative strength. It is a short sell and surprisingly it would actually be held on to as a positional trade also," he added.

Also Read: August auto sales continue to disappoint; exports rise

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