Sukhani told CNBC-TV18, "JSW Steel has been showing signs of life it's come in our buy list earlier. Whatever little rally it has seen suggest that there maybe more upside and JSPL, I don't think even a trading buy is suggest because the deep decline is probably not over and when the stock falls so deeply, so down, so significantly small rallies are just bounces. Immediately the trend can turn down, so the two stocks are different, JSW Steel yes, there is a possibility, it's possible to take a buy and for JSPL, I would say avoid it."
He further added, "A lot of stocks will keep on doing this, on some days they go up and on some days they come down, but what is the secular trend for the stock that secular trend is down, there is no change in that and the gains we are talking about today have not been so significant as to suddenly change that trend. For example in Bajaj Auto we have suddenly seen the trend has changed to down today that is not the case with Orchid, certainly we are seeing an upmove, but that's about it. I wouldn't go and buy it today just because of the small upmove that we are seeing."
" Coal India from that small consolidation is now breaking it on the upside, at Rs 310- 312 there is minor resistance and the chances are it can break it and go above, but the question of a floor at Rs 300 comes if the broad market is actually stopping or I feel that it's going to stop falling that's not the case, so whenever this relief rally in Coal India ends I suspect that Rs 300 will be broken and that will be very sharply."
