Sell Hindalco Industries: Sudarshan Sukhani

Jan 09, 2014, 09.15 AM IST

Sudarshan Sukhani of s2analytics.com recommends selling Hindalco Industries as the stock may head lower and test Rs 108.

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Sudarshan Sukhani of s2analytics.com recommends selling Hindalco Industries as the stock may head lower and test Rs 108.

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Sell Hindalco Industries: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com recommends selling Hindalco Industries as the stock may head lower and test Rs 108.

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Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "I would sell Hindalco Industries but I am not bearish on metal stocks. They have entered a bull market but this process of starting a bull market is painful and at this point all metal stocks are willing to go lower in a deep correction. Therefore, we are only looking at a correction here, which is tradable enough."

"Hindalco made a large, what now seems to be a distribution and is breaking down, giving a target of Rs 108 on the downside and it could be little more also. So, for the short-term metal stocks have turned into a selling opportunity," he said.

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