Short Jindal Saw, says Sukhani

Sukhani told CNBC-TV18, " IDBI Bank is an interesting chart, like many other banks it has seen a rally. In case of IDBI, we haven’t seen a consolidation or some kind of a basing pattern before it broke out. It just made a V-Shaped reversal. That is the only minus point I can think. Otherwise this stock seems to be now out performing the bank index, which is good. So here is a relative out performer. The stock itself is a part of the banking sector, which is likely to do well. I think we could simply follow the trend on the upside; sometime V-Shaped reversals go more than we expect."

He further added, "Jindal Saw is a complete disappointment. In the current market rally the stock did nothing, it went up by a few points that is only Rs 5-7 in a Rs 125 stock. It has begun a decline again, so we are seeing new lows in it. It is a short selling opportunity. Most of Jindal Group stocks are short selling ideas and this one seems to be leading the pack. So here is a short sell that should work out in next four days."

Disclosure: I have no personal holdings in the stocks discussed.