Sell HDIL on rallies, says Sudarshan Sukhani

One can sell Housing Development and Infrastructure (HDIL) on rallies, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Housing Development and Infrastructure (HDIL) is going to Rs 43.40. It may not do that today if the Nifty starts a bounce. However, eventually it will. So, the trade is to still sell on rallies. There is nothing to buy here."
At 10:16 hrs Housing Development and Infrastructure was quoting at Rs 48, up Rs 0.70, or 1.48 percent. It has touched an intraday high of Rs 48.45 and an intraday low of Rs 47.85.
The share touched its 52-week high Rs 123.95 and 52-week low Rs 43.65 on 16 January, 2013 and 26 March, 2013, respectively. Currently, it is trading 61.27 percent below its 52-week high and 9.97 percent above its 52-week low. Market capitalisation stands at Rs 2,011.22 crore.