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Last Updated : May 23, 2012 05:12 PM IST | Source: CNBC-TV18

Limited downside seen in telecom stocks, says Sukhani

Limited decline seen in telecom stocks, says Sudarshan Sukhani of s2analytics.com.


Limited decline seen in telecom stocks, says Sudarshan Sukhani of s2analytics.com.


Sukhani told CNBC-TV18, “Theoretically yes but in practice I think selling Shree Renuka at current prices is fraught with risk. There are practical issues there and these are high beta stocks. The slightest rally or relief rally can cause a lot of pain. So I would say stick with the bank Nifty, stick with Nifty for any short positions.”

He further added, “Idea Cellular is making new lows after that brief rally and Bharti has done the same today. So both charts have broken down. There is something else. It is true that both charts are breaking down but that doesn’t necessarily mean that a much deeper lower levels are coming here. It is possible that they may stop at current levels or just dip a little more. I don’t see big declines in the telecom stocks and at worst they may stabilize, they may become choppy.”



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First Published on May 23, 2012 04:50 pm
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