Sukhani's view on Max India

Sudarshan Sukhani of s2analytics.com shares his view on Max India.

Sukhani told CNBC-TV18, "We had that big thrust in Max India on the back of news. It broke out of a very large trading range. This is what the advise usually is, don’t buy on these big thrusts because markets will consolidate and that is what they have done, they have consolidated for the last seven trading sessions almost two weeks and now it appears yesterday we had a gain in Max India when the broad market was collapsing."
He further added, "It appears that the consolidation may well be getting over. So the prices are continuing to remain at the higher levels. The prices have not declined, they have just consolidated, it is a very good opportunity to go long assuming there is more upside here, there should be."
"IRB Infra is a sell but there are many other opportunities for short selling in infrastructure. So among the infrastructure stocks, IRB is a relative outperformer. That doesn’t change the trend. The trend is still down but it might be wiser to look at GMR or look at host of other stocks, HCC to sell rather than IRB. But the trend is down so there is no confusion on that part."