Shriram Transport Finance looks weak: Sukhani

Shriram Transport Finance looks weak, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Shriram Transport Finance chart looks very weak and when it was crossing Rs 610-615 there was an eminent sense of a breakout on the upside and this is how technical trading works or rather any trading. Sometimes the views change based on what price movements are."
He further added, "It has already broken that Rs 570-575 level which was a strong support. Yesterday it fell on a day when most stocks went up and the chances are that it’s now going all the way down to 500 before it stops and stems its decline. So very weak chart and even assuming that the market gives a knee jerk reaction on the upside after results assuming that’s a short sell."
"All we can do with Tata Motors is to buy on dips, unfortunately for buyers it rallied intraday yesterday and even at current prices a test of Rs 320 is quite likely and we want to go and see whether it goes up, touches Rs 320 because of the big move yesterday Tata Motors need not be bought at the open. We have to wait patiently for an intraday consolidation and then it would be sensible to go long in it, in fact, even the differential voting rights (DVR) could be used although I have given Tata Motors today."