Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Jaiprakash Associates has given sign that it was going into a bull market. It completely failed to do that with follow-through. It has broken all kind of support levels. I do not even know whether one can short it. However, if there is a trade then it is on the short side maybe a couple of days, three-four days of rallies will come and that will be a short opportunity. It is not going up in a hurry so short selling is not coming with big risk. Sooner or later one will still get the entry price."
Jindal Steel & Power (JSPL) is going down. It is not going to stop here. Therefore, it is a short sell. One just needs an entry window; there is a consolidation, there is an intraday rally, sell it," says Sukhani. Also Read: Jindal Steel at 4-yr low on CBI notice for coal scam probeDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
