More downside in India Infoline, says Sudarshan Sukhani of s2analytics.com.
Sukhani told CNBC-TV18, "India Infoline has already cracked, so I am just assuming that there will be significant follow through on the downside. At Rs 53 it is lower from the highs of Rs 67 and there is much more downside left at Rs 56. Probably it won’t stop till it reaches Rs 45, where there is lot of support for this stock. So yesterday’s big decline tells us there is lot more downside, more follow through is expected today and in the next few days."
He further added, "IVRCL did and the nice thing is that it went up to Rs 75. The theme is, please do not rush to buy, you will get it lower. Never buy when there is excitement and news. That proved itself again. It has come down, it made a low of Rs 60 and at Rs 64, it has become a buy on dips opportunity."
"Anyone buying at Rs 74 can now Rs 10 lower. The theme still remains; IVRCL is in an uptrend. It bounced back right from Rs 60 support. So here is another stock like Dish TV buy on dips. It is probably a little better than Dish TV."
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