Short HDFC Bank: Sudarshan Sukhani

One can short HDFC Bank, which is now suggesting much lower levels to come, says Sudarshan Sukhani of s2analytics.com.
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Feb 07, 2013, 02.24 PM | Source: CNBC-TV18

Short HDFC Bank: Sudarshan Sukhani

One can short HDFC Bank, which is now suggesting much lower levels to come, says Sudarshan Sukhani of s2analytics.com.

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Short HDFC Bank: Sudarshan Sukhani

One can short HDFC Bank, which is now suggesting much lower levels to come, says Sudarshan Sukhani of s2analytics.com.

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Sudarshan Sukhani (more)

Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical

One can short HDFC Bank, which is now suggesting much lower levels to come, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "The short calls are HDFC Bank , which is now suggesting much lower levels to come, it is not bottoming out and a lot of PSU Banks.”

He further added, β€œIn spite of the small rally we have seen Bank of Baroda is a short, so is United Bank and I would say that there is no buying opportunity in PSU banks. The selling opportunities are there in the Bank Nifty.”

HDFC Bank touched its 52-week high Rs 705 and 52-week low Rs 492.90 on 30 November, 2012 and 23 May, 2012, respectively. Currently, it is trading 9.09% below its 52-week high and 30.03% above its 52-week low. Market capitalisation stands at Rs 151,769.32 crore.

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