Nov 19, 2012, 12.14 PM | Source: CNBC-TV18
Sell Punjab National Bank (PNB), says Sudarshan Sukhani of s2analytics.com.
Sudarshan Sukhani (more)
Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical
Sukhani told CNBC-TV18, "Markets work in context, so we have had two big down days or two large range days. Today is expected to be choppy in any case. So any trading ideas we talk about must be taken in the context that markets are likely to remain choppy. In that choppy condition, you may or may not take a trade but within that overall environment, PNB continues to be a sell. We have been bearish on some of these banks for a long time now and that bearishness continues. If you see a small rally then look to short it."
He further added, " DLF continues to be a short. Please remember the context after two big days, markets can be choppy and day traders can be literally chopped out. So do not get into environment but if you sense that the markets are weakening again then stocks like PNB and now as we are discussing DLF are the first shorting candidates."