Petronet LNG may slip to Rs 110-115: Sukhani

Petronet LNG may slip to Rs 110-115, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Petronet LNG is a wonderful stock, people have made money on the long side. Now Rs 150 was a strong support that cracked without any resistance at all and now the next targets are Rs 110-115. There is nothing to buy here. You don’t actually go and sell out on strong stocks but the trade is to go short if you want to, if the trader wants to otherwise you just step aside and let it complete its correction."
He further added, "S Kumars had this final support at Rs 31, it cracked below it, now it’s looking at a target of Rs 25-26 so it’s not good news. But S Kumars is also an appropriate shorting candidate, its worthwhile looking to go and sell it."