Limited upside seen in SAIL, says Sukhani

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Limited upside seen in SAIL, says Sukhani

Limited upside seen in SAIL, says Sudarshan Sukhani, s2analytics.com.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by Sudarshan Sukhani See what other Experts & Brokerages are saying about SAIL See messages about SAIL

Limited upside seen in SAIL , says Sudarshan Sukhani, s2analytics.com.

Sukhani told CNBC-TV18, "SAIL charts are upbeat. I don't think the results have affected them in any way, except that the stock prices at Rs 115 are already at a point where resistance would come. So it's a coincidence that results could be a little indifferent; are also accompanied by a level that is a natural resistance. It is quite possible that SAIL is not having any upside from this point till it consolidates or corrects or does something similar."

He further added, " Coal India was a bearish chart and I think it is quite possible to go short in this stock, put Rs 15 stop and expect sub Rs 300 number because this is not a chart that suggests going up."

" State Bank of India , after that knee-jerk reaction it is consolidation at the top which is what the Nifty has been doing. If the Nifty breaks out, State Bank is likely to move much higher, outperform the Nifty so two opposite views."