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Aug 17, 2012, 11.08 AM IST
Short HPCL, says Sudarshan Sukhani of s2analytics.com. It has fallen from Rs 350 to Rs 310 so that is a decent decline. The chart suggests that more new lows are likely.
Short HPCL , says Sudarshan Sukhani of s2analytics.com.
Sukhani told CNBC-TV18, " Lupin is a very good stock, it has been moving up consistently. It is making all the right noises; new highs, higher highs, higher lows and finally an inclusion." He further added, "These oil marketing companies are coming in our sell list repeatedly and it’s not me not liking HPCL, the market doesn’t like it. HPCL has fallen from Rs 350 to Rs 310 so that is a decent decline and even now everyday the inflation is the chart suggests that more new lows are likely." "For some reason the market has suddenly turned off oil marketing companies. But as a chartist I would be a short seller in this even if the Nifty were to go up but I am assuming that oil marketing companies will continue to go down. So there is a short in an ongoing uptrend."
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