See lower levels in NMDC: Sudarshan Sukhani

See lower levels in NMDC, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Shriram Transport Finance Corporation went through a correction of some kind. It started a rally from Rs 500, reached Rs 650. A mild correction seems to be over. It is one of the gainers yesterday and standing at support. So these are buy on dips stocks."
He further added, "Always when we discuss buying the context is that we are in some kind of an uptrend and the immediate short-term trend is down, so buying always has risk in these circumstances. Traders must understand that if the Nifty decides to take a tumble, then you must use your stop losses. Do not just overstay your welcome."
"NMDC has nothing to comment itself. It has made a very bearish pattern and is now willing to fall much lower. PSU stocks have an independent theme. We have seen how REC did it, how PFC did it and the same thing is now coming on NMDC, different sectors but the common underlying theme is they are PSUs and the PSUs are completely out of favour. Much lower levels are possible in NMDC. I do not think it has to do with the metals or mining, it has probably to do with PSUs in general."