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Jul 12, 2012, 08.23 AM IST
Sudarshan Sukhani of s2analytics.com is of the view that one can short Wipro.
Sudarshan Sukhani of s2analytics.com is of the view that one can short Wipro .
Sukhani told CNBC-TV18, "Wipro has a disappointing chart and this stock is going to go down and go through a correction, no matter what it does in earnings. It remains a short sell and one has seen how IT stocks have distinctly underperformed and they are now on the verge of breakdowns. So IT is likely to remain an underperformer and a short sell. The second option is to sell CNX IT. That should also payoff."
He further added, "We have been upbeat on Crompton Greaves after it started to build a base, completed what I think was is bear market. It has been in a trading range for the last seven-eight days. It's on the verge of the breakout because markets may remain choppy today, one do not know if that breakout will come this morning, afternoon or tomorrow but it should and once Crompton Greaves starts inching up there is a strong buy signal coming because the targets then becomes significantly higher. The modest day trading target is Rs 138 but the genuine targets will be much higher for a position trader."
Disclosure: I have no personal holding in any of the above stocks.
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