Short Voltas, Coal India: Sukhani

Sukhani told CNBC-TV18, “The best trade should be focused on the short side because the trend is down. One stock that I think can go lower is Voltas. Voltas was in a trading range, very tight range of Rs 117 to Rs 111 and it has now broken down below that Rs 111 range so suggesting there is more downside. A stop loss is possible at Rs 111 and a target at Rs 100. So Voltas is a short sell for the day.”

He further added, “The same story applies to Coal India where the trend is now slowly turning down. It’s now going through some kind of distribution so Coal India is a short sell. Both ideas are best for the day only. Sell Coal India, keep a stop at Rs 358 and look for a target of Rs 330. This target is probably going to come in a day or two and not necessarily on Saturday.”