IOB will underperform, says Sukhani

IOB will underperform, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Indian Overseas Bank’s rally was similar to most of the other public sector banks (PSU) but then it cracked and for the last three days it has been an underperformer. As banks come under pressure in four-five days in anticipation of what I think is a correction, IOB will underperform and continue to slide down."
He further added, "This is only a short-term trade because on an intermediate term PSU banks are excellent buying opportunities. But this is a trade on the downside and it should work out if one is having three-four day time horizon."