Apr 12, 2012, 12.13 PM | Source: CNBC-TV18
Sudarshan Sukhani of s2analytics.com is of the view that one can short Jain Irrigation.
Sudarshan Sukhani (more)
Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical
Sukhani told CNBC-TV18, " Subex has a chart that suggests buying is possible but this stock hasn’t done anything. It goes and moves up and down in a trading range. Purely on charts, I would say its buy but generally on a selection I wouldn’t select it in my list."
He further added, "Jain Irrigation is a short sell; it is a very big disappointment. All the time there is a sense that it is going up and it’s coming out of hibernation and finally moving into a bullish territory but then it absolutely collapses. The stock has been on a downtrend for some weeks now, the rally fizzled out. Every time it tries to move up there is a very small rally and there is significant selling pressure comes back. So, Jain Irrigation is a short sell because here the trend is clearly down."
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