Sintex Industries may slip to Rs 65: Sukhani

Sukhani told CNBC-TV18, "There is nothing in Sintex. It’s a pity, because it went to Rs 100 and then this stock literally collapsed and that was a bear market rally. Now it’s broken down from a trading range that was about around Rs 80. From Rs 80 it’s come down to Rs 78 and the chances are it will go down back to Rs 65 where it started the rally from. It’s a very bearish stock and there is money on the downside because I don’t see any buyers at all."

He further added, " United Spirits did that wonderful thing of moving up from Rs 450 to Rs 700; Rs 700 has been consistent resistance for this stock. I am assuming and I think that should work out is United Spirits coming back to Rs 450. That won’t happen in a day, but it’s an extremely weak looking chart and we should be looking to go and sell it. Keep a stop loss. The chances are that it will see a waterfall decline."

Disclosure: I have no holding in any of the above stocks.