Short Coal India, says Sudarshan Sukhani

One can short Coal India, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "In Coal India I thought maybe Rs 295 is holding and perhaps the rally is starting. However, that was coincident with the Nifty. The Nifty collapsed yesterday and Coal India did it almost immediately. Rs 310 has proved to be strong resistance, it is now on the verge of making new lows for itself, it is very disappointing and the underlying theme of PSUs still comes into play but it is a short sell.”
He further added, “I think position trader could buy Puts and wait patiently through the month of April, for all the three PSUs, REC, NMDC and Coal India."