Delta Corp will break Rs 50: Sukhani

Delta Corp will break Rs 50, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "GMR Infrastructure was a disappointment, there was a sense that GMR has bottomed out but that doesn’t seem to be working out. Even here there is a 5% cut towards Rs 19. At Rs 19 it becomes difficult to say what this stock will do. So I don’t know whether it is anymore a tradeable instrument."

He further added, "Earlier when Shree Renuka Sugars broke down we had a target of Rs 25, currently that is the target we are holding on to. We have to see whether it exceeds that on the downside but that is the first stop and then we will see if anything else happens."

"There is nothing in Delta Corp. We saw a sharp rally that rally has already fizzled out. We are looking at a target again of Rs 55 or even Rs 50. We were almost certain that these rallies in some of the stocks are bear market rallies and they will fizzle out, Delta was one of them. So there was no buying earlier. It is a short sell and with lower targets. Chances are it will eventually break Rs 50 on the downside."