Sell Allahabad Bank, buy Reliance Power: Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can sell Allahabad Bank and buy Reliance Power with a target of Rs 100.

May 25, 2012 / 12:16 IST

Sudarshan Sukhani of s2analytics.com is of the view that one can sell Allahabad Bank and buy Reliance Power with a target of Rs 100.

Sukhani told CNBC-TV18, “Allahabad Bank made new lows. It is a short sell and so is Canara Bank. This time one cannot make a generic statement that all banks might go up.”

He further added, “Reliance Power was in our buy list this morning. It’s come to Rs 88 and that’s strong support and maybe the results will see it go up and that was gratifying. The charts are suggesting there is more upside here. I do not know about the fundamentals but just on price action now it’s at a point where another breakout should take it all the way to Rs 98 or even Rs 100.

first published: May 25, 2012 12:13 pm

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