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Sep 03, 2012, 11.26 AM IST
Sudarshan Sukhani of s2analytics.com is of the view that one can short LIC Housing Finance. Every time it rallied, the highs were lower than the previous one. As of now the last rally didn’t see it go up at all. It is probably cracking below Rs 240 and going lower.
Sudarshan Sukhani of s2analytics.com is of the view that one can short LIC Housing Finance .
Sukhani told CNBC-TV18, "I saw LIC Housing is doing the right things, may be it is going to make new highs, it didn’t do that. It started falling significantly then it started making those lower highs pattern. Every time it rallied, the highs were lower than the previous one. As of now the last rally didn’t see it go up at all. So, LIC Housing is a short sell." He further added, "Again the warning is that if the Nifty decides to stage a small rally today, some of these stocks may go against the short selling idea and there is no rush. But if we start looking at the next 2-3 days, the short selling opportunities will emerge. LIC Housing is probably cracking below Rs 240 and going lower." " BPCL is falling, not doing anything and it is now at new lows, new 20 day lows, 50 day lows. It is a stock that you want to sell. We know it is influenced by news and I suspect that market assumes that the influence is all bearish."
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