Sell Pantaloon Retail: Sukhani

Sudarshan Sukhani of s2analystics.com is of the view that one can sell Pantaloon Retail. The stock is likely to slip further.

Sukhani told CNBC-TV18, “One can sell Pantaloon. It has been breaking its earlier support levels. The earliest it can stop is at Rs 140, which is my immediate target. I won’t worry about the results this time because we have seen what results are doing to companies which perform even slightly lower. Pantaloon’s first target is Rs 140 and I assume that it would be met. If Rs 140 is broken then it’s the freefall and my sense is that we are moving towards Rs 110, no matter what happens on news basis.”