Sukhani's view on Reliance Infrastructure

Sudarshan Sukhani of s2analytics.com shares his view on Reliance Infrastructure.

Sukhani told CNBC-TV18, "Most ADAG stocks in my list appear to be bearish. But Reliance Infra had a very unusual pattern that last for three days. It fell. Made a narrow range on Saturday and it rallied yesterday. Although Saturday is included in it, but there is a sense that this could at least be a short-term reversal. These are short-term reversals but for Reliance Infra if we are seeing a reversal on the upside it’s a pretty high-beta stock. There could be a lot of move on the upside before it fizzles out or before it consolidates. So for the day Reliance Infra needs to be watched for significant follow through on the upside and that’s a buy."
He further added, "I don’t actually track WWIL. The truth is that it’s not a stock you want to do anything with. But if at all there is a trade here, if somebody wants to take a trade, it has to be on the downside, because the chances are it will reach Rs 9 even Rs 8.5. You really don’t want to do anything else in that. You don’t even have to trade it, but if at all somebody wanted to."