Delta Corp may slip to Rs 45: Sukhani

Delta Corp may slip to Rs 45 from current level, says Sudarshan Sukhani, s2analytics.com.

Sukhani told CNBC-TV18, “Delta Corp and Sintex Industries are terrible looking charts. Delta Corp between the two is even worse but that’s not much of a choice. I don’t see Sintex Industries bottoming out. I had a target of Rs 45 on Delta Corp and that still remains.”
He further added, “It make sense to go short in most of the PSU banks because many of them have made those distribution patterns broken down, so while the others are giving v-shape decline they are also mimicking the same patterns, at least the pattern is same that markets are moving lower for PSU banks. The only point is that you have to be careful when you go short so maybe today is not a good day. Tomorrow the start of the news series is when these positions should be considered.”