Short REC, says Sudarshan Sukhani

Short Rural Electrification Corporation (REC), says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "We had a sharp rally in Rural Electrification Corporation (REC) but that rally stopped short of the earlier highs. So, the pattern of lower highs-lower lows is being maintained. REC would then be a short sell. It is difficult to get good trades in choppy market, which is what I think we will enter. So, short selling should also be done carefully. Keep a stop loss in any case."
At 10:36 hrs Rural Electrification Corporation was quoting at Rs 232.00, down Rs 0.75, or 0.32%. It has touched an intraday high of Rs 234.85 and an intraday low of Rs 230.50.
The share touched its 52-week high Rs 267.50 and 52-week low Rs 142 on 04 January, 2013 and 07 June, 2012, respectively. Currently, it is trading 13.27% below its 52-week high and 63.38% above its 52-week low. Market capitalisation stands at Rs 22,909.05 crore.