Jun 15, 2012, 11.33 AM | Source: CNBC-TV18
Sell Tata Motors, says Sudarshan Sukhani of s2analytics.com.
Sudarshan Sukhani (more)
Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical
Sukhani told CNBC-TV18, "Tata Motors is still a sell. The small rally we saw in the stock was a bear flag and that is worrying because that gives the message that much more downside maybe coming. Now, it is filled with news including something today but the charts are not at all conducive to a rally. Earlier also suggestion was that let the decline stop, then we could make a call whether the stock is making a bottom but that hasn’t happened yet. I think there are lower levels coming."
He further added, "For whatever they are worth, most infra stocks are buying opportunities. GMR Infra also made a small base for one and half months, then it broke out of that. Yesterday’s dip must be taken just as a dip; the markets rally, then they correct a little. So I think of that as a healthy correction rather than anything else. GMR fell yesterday giving us an entry point as a long trade today."