Avoid Alok Industries, says Sukhani

Avoid Alok Industries, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Alok Industries is very disappointing. Yesterday it made a big decline. It failed to cross Rs 20 mark which would have acted as a thrust on the upside but that it did not do. So Alok is now drifting, it is probably looking at Rs 17 on the downside but the charts are telling us that this is a complete avoid for all kinds of traders.”

He further added, "Voltas is a better chart, after all the declines that it has seen, it is building some kind of a small base. I would be a buyer in Voltas. Since we are talking on a day when markets are likely to open down, I have to keep on telling viewers please don’t rush to buy at the market opening. The idea is that Voltas is a buy but one has to time it. I think there is money on the long side here."