Feb 07, 2013, 02.24 PM IST | 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.

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, “In 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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