Mar 04, 2013, 06.56 PM | Source: CNBC-TV18
Sudarshan Sukhani, s2analytics.com advises traders to sell NHPC on rally.
Sudarshan Sukhani (more)
Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical
Sukhani told CNBC-TV18, “National Hydroelectric Power Corporation (NHPC) is a shorting opportunity. NHPC in the last two days gave away the gains of almost three months of rallies and it was moving up relentlessly. So a stock that suddenly turns around has a story that we do not understand and we cannot go and buy it. So it is a short sell. After such deep declines even tactically short selling is not easy. On Small rallies it would be a sell, not a buy.”
On March 04, NHPC closed at Rs 19.60, down Rs 4.55, or 18.84%. It has touched an intraday high of Rs 21.80 and an intraday low of Rs 17.90.