Exit Jindal Steel & Power: Sukhani

Sudarshan Sukhani, s2analytics.com is of the view that one can avoid Tulip Telecom. “Sesa Goa and Hindalco Industries better than JSPL, one should exit JSPL,” he adds.
 
Sukhani told CNBC-TV18, “Tulip Telecom fell on the back of multiple circuits on the downside. Now it is trading but we have to remember where it fell from, it fell from Rs 100. So at Rs 40 it is not a buying opportunity. Avoid it, there may be good news coming I don’t know but there are other opportunities.”
 
He further added, "I think investor should get out of Jindal Steel & Power (JSPL). Metals are underperforming and they will continue to underperform. There are other metal stocks which will probably do better than JSPL and they are Sesa Goa and Hindalco Industries. Sesa Goa and Sterlite are same so I am using Sesa Goa as a substitute. JSPL doesn’t give anything on the charts to suggest a big up move. So if the investor wants to stay in metals, then he/she should shift or otherwise should go into banking.”