Exit Lakshmi Vilas Bank: Sukhani

Sudarshan Sukhani, s2analytics.com is of the view that it is far better to get out of Lakshmi Vilas Bank. “The oil marketing companies are doing very well and chart suggest there is more momentum on the upside.”
 
Sukhani told CNBC-TV18, “The oil marketing companies are doing very well, and that is little bit of a surprise because after the initial spurt I thought this will dissipate just as it does every time, but it has been fairly consistent. I do not have a call. I do not really understand how these company prices behave and sometimes it gets very confusing. But if somebody still understands it, yes the charts do say that there is more momentum on the upside.”

He further added, “I think it is far better to get out of Lakshmi Vilas Bank. It was in a very big trading range burst, then a trading range then another burst towards the upside. You need to have conviction on the fundamentals to say I want to stay here otherwise take profits. With some of the public sector undertaking (PSU) banks we know that these banks have good chart patterns. Here we have to trust the price or trust the person who is driving the price, it is better to take profits.”