SENSEX NIFTY
Feb 06, 2013, 10.24 AM IST | Source: CNBC-TV18

Short Cairn India, says Sudarshan Sukhani

Short Cairn India, says Sudarshan Sukhani of s2analytics.com. For the short-term traders, the sense of direction is that Rs 320 is breaking down and the next target could be Rs 308 or even Rs 300.

Short Cairn India , says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Cairn India is a horrible chart. It went up 30 points, it comes down 30 points and it is giving us a no sense of direction.”

He further added, “For the short-term traders, the sense of direction is that Rs 320 is breaking down and the next target could be Rs 308 or even Rs 300. It is not a big move but it is a tradable opportunity. Cairn India is a short sell simply because it is now moving in a trading range and as we speak, it is probably heading towards the lower end.”

Disclosure: I have no holdings or interest in the stock discussed.

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