Expect fall in Jaiprakash Associates, Sesa Goa: Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, “Jaiprakash Associates is really cracking fundamentally and certainly technically. It was in a narrow range, but the trend was down before hitting the range.”

He further added, “These ranges, in a downtrend, are very ominous. They tell us that big down moves are expected now that the range has broken down on Friday; a bigger and deeper decline eminent. This is not just a trade for a day. If you take a position, you can simply carry it for a few days; it should make a reasonable amount of money.”
“Second is Sesa Goa. It was bouncing around support of Rs 158-159 for long time and that has cracked on the downside. That is worrying. There will be some down movement comes before it steams,” Sukhani said.