Sell GMR Infra, buy Essar Oil on decline: Sukhani

Written By Unknown on Rabu, 17 Oktober 2012 | 14.02

Sudarshan Sukhani, s2analytics.com is of the view that one should sell GMR Infrastructure . One can buy Essar Oil on small decline.

Sukhani told CNBC-TV18, "GMR Infrastructure is looking bad technically. It has already given signs of starting to go down towards Rs 20. That's a 20% downside from current levels. It's not a good stock to be on the buy side. You do not want to buy on any dip. You should be a seller here."

He further added, " Essar Oil  chart tells that it has broken consolidation and that's fairly upbeat and bullish. But it's still not a buy today. I think a small dip or a correction would justify buying for people who know about the stock."
"Yes Bank is giving clear signs of exhaustion. There is a sense of distribution, a sense that it has done its bit. It's probably rallied more than it should have. I would expect it to slide down to Rs 350-360 before a good buying opportunity comes. I do not know whether you want to short sell a strong bank like Yes Bank, but it is a short sell and it's certainly not a buy."



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