Expect Kingfisher to retest support of Rs 39: Mohinder

Rahul Mohinder, Technical Analyst at viratechindia.com expects Kingfisher Airlines to retest the support level of Rs 39.

Mohinder told CNBC-TV18, "I would like to sell Kingfisher Airlines. I think the stock could be sold around the Rs 43 level. There is strong resistance at Rs 45. Of course the longer term trend and the various averages still continue to point towards the downward level. I would expect Kingfisher to retest the support level of Rs 39 and once the Rs 39 level breaks down we would see a severe fall come in. But in the main short-term, sell with a target of Rs 39 and keep a Rs 45 stoploss."