Short Bharat Forge: Sukhani

Written By Unknown on Selasa, 22 Januari 2013 | 10.54

Sudarshan Sukhani of s2analytics.com is of the view that one can short Bharat Forge .

Sukhani told CNBC-TV18, "Bharat Forge is a wonderful company as much as I can understand and the charts are so bad and so terrible. From Rs 300 it has come down to Rs 250. At Rs 250 it consolidated and then may be this consolidation was a reversal but it has not turned out to be so. It is a continuation head and shoulder pattern."

He further added, "Technical traders should open their charts and see it has made a head and shoulder pattern after a decline. So very bearish pattern and may be an eventual target of Rs 215-220 could come. That is not a day trading target but there is a trade here on the short side starting today."



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