Short Jet Airways: Sudarshan Sukhani

Short Jet Airways, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "What is happening is that we had a very good run in Jet Airways. I do not think that the trend has changed, but it is right for a very deep correction and traders can actually take advantage on the short side of this kind of a correction. In any case in a market where the blue chips start going up which I assume would happen this time again, stocks like Jet will take a backseat. So it is right for a correction. It is likely to underperform anyway. It is a short sell."
He further added, "I would say that Bank Nifty’s first hurdle at 12800 needs to be crossed and then chances are that it will go higher, but Bank Nifty will continue to underperform the Nifty this time, because I am not upbeat on the private sector banks. So the Bank Nifty is going to be pushed only by the PSUs, which means that it is better to trade in the Nifty directly and to trade in the PSU banks."
"The charts of JSW Energy are very nice. It has moved up a lot from Rs 35 to 68 and then it has been in a trading range. Once it breaks out above Rs 68 again there is a very strong thrusting move on the upside. So traders can just take long positions and whenever they see a big move coming, or whenever they see that they have suddenly landed in a big move, stay with the stock. Do not make it a day trade. Make it a position trade."