Sukhani‘s view on GMDC, Alstom Project, Guj Fluorochem

Sudarshan Sukhani of s2analytics.com view on GMDC, Alstom Project, Gujarat Fluorochemicals.

Sukhani told CNBC-TV18, “Gujarat Mineral Development Corporation (GMDC) cracked below Rs 175 support. All the significant support levels in midcap stocks have been broken on the downside. The targets are so low that we cannot discuss. An immediate target of Rs 158-155 is visible and that is good enough for short-term traders and for swing traders. GMDC’s targets are Rs 110 after the breakdown.”

He further added, “Alstom Projects has a support level at Rs 340. This one hasn’t broken unlike most of the others as we discussed, so I am just hoping that the support will hold. This is not a stock that one should rush on a down day like this. But if the support is holding then we will be buying at the lows. One has to wait till the close to find its holding.

“Gujarat Fluorochemicals is a stock that could do no wrong. It’s fallen from Rs 530 to Rs 400 and promises to go to significantly lower levels. There is a freefall here. Yesterday it fell when the broad market was slightly better. We are going to see a follow through on the downside so go and short it.”