Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Sterlite Industries is a disaster. The small rally fizzled out then back to back losses of 15-20 trading days which is not something that a good stock should do."
He further added, "At current levels of Rs 67-68 it is suggesting that it could go down to Rs 50 and some of these stocks do not have any patterns now; they have continuation patterns only, which suggests significant downside targets are imminent. I would be a short seller in Sterlite."
"The gaps that we see in the Nifty are selling opportunities to me and I do not think they need to be bought into. Therefore, if there is a gap up then wait patiently and then look to sell because one can sell at higher levels."
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