Feb 06, 2013, 10.30 AM | Source: CNBC-TV18
Sell Sterlite Industries, says Sudarshan Sukhani of s2analytics.com.
Sudarshan Sukhani (more)
Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical
Sukhani told CNBC-TV18, " Sterlite Industries is a horrible chart. It is literally the same as the other metal stocks. It has made and confirmed, very bearish head and shoulder pattern giving us a target of almost Rs 94-95 maybe even Rs 90. That is not good news. It is a sell on every opportunity stock.”
He further added, “We are selling today, it broke down yesterday. I am assuming there will be follow-through. Apart from today, it is something that we are going to watch and look to go short on whenever we can.”
Disclosure: I have no holdings or interest in the stock discussed.