Stay away from TBZ, TV18 Broadcast: Sukhani

Sudarshan Sukhani, s2analytics.com feels that one should stay away from TBZ and TV18 Broadcast. "Once TV18 Broadcast crosses Rs 40 then we should be interested because that will give a real sign," he adds.

Sukhani told CNBC-TV18, “Tribhovandas Bhimji Zaveri (TBZ) is something that you need to avoid completely. It is a stock that did not list well and then it is running away at some point of time. We have seen hundreds of these stories; they have literally dismayed and disappointed investors in the final reckoning. We do not know when that final reckoning comes but my advise is stay away, if you have some momentum trades, take your profits and go. This is not an investment idea by any chance.” He further added, “I have been tracking TV18 Broadcast, I have also been buying and selling it at on and off intervals. Both these stocks have disappointed a number of times. We see uptrends and sharp swings on the upside and then suddenly an equally sharp collapse. So it is very difficult to say whether this one is genuine or not. We saw TV18 rally to Rs 36 and then come back to Rs 30 and then again come back to Rs 33 today. This is not a very conducive sign of a stock that wants to go up. Stocks that go up, go up slowly, steadily, they keep on going up. So I think we need to stay away from it. Once it crosses a threshold of Rs 40 then we should be interested because that will give a real sign.” Moneycontrol.com and Television Eighteen Network are both part of the Network18 Group.