Stay away from Jindal Steel: Sukhani

Sudarshan Sukhani, s2analytics.com advises to stay away from Jindal Steel & Power (JSPL).

Sukhani told CNBC-TV18, “My opinion on Jindal Steel and Power Ltd (JSPL) is very dim. I have been downbeat on this stock and it has been falling. So, I would say that this is a stock that is breaking support levels consistently, rallies should be sold into.” He further added, “Stocks do not go up on a dime, they have to build basis and then start a process of rallying. That has not started with the company, with the stock price. So either stay away or look to go short.”