United Spirits may slip below Rs 930: Sukhani

United Spirits may slip below Rs 930, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "United Spirits three days ago fell 40-50 points from Rs 980 to Rs 930 and is now making narrow ranges. So it does give the first sense that the stock is now willing to go below Rs 930 and probably move into the Rs 800’s. It is not necessarily a change of trend but it is certainly a short selling opportunity for intraday traders."
He further added, "Hero Motocorp is more of a hoped buy since it is a favorite for me. It is not doing the right things yet. Bharti Airtel was doing the right things, made a pattern; Hero Motocorp is not doing it. All it has done is it stopped falling. For a blue-chip to stop falling tells us that it’s a high risk buy but it is worth it, the important point here is follow your stop losses. Sometimes like Bajaj Auto, these good stocks simply move up not necessarily today, may be tomorrow but it is good to be on the long side in them."