Sukhani's view on HDIL, Mahindra Satyam

Sudarshan Sukhani of s2analytics.com view on HDIL, Mahindra Satyam.

Sukhani told CNBC-TV18, "The trade here is on the short side but I am not sure whether I want to sell HDIL at Rs 62. That is a different issue because that is a question of trading tactics. At Rs 62 HDIL is now breaking a significant support level and going to lifetime new lows. So a stock that is making new lows has to be sold and there is no reason why it should stop here. It’s just that it’s so low it becomes little difficult. But if someone wants to take a trade he has to go short in it."
He further added, "One cannot sell Mahindra Satyam because it’s on the Futures & Options (F&O) segment but there is nothing to buy. An intraday trader could try and sell it and then cover up on some declines. It’s a horrible chart and chances are that it will go much lower than where we are seeing it now."