Wednesday 12 November 2008

Do not buy TTML: Sukhani

Technical Analyst, Sudarshan Sukhani is of the view that one should not buy TTML.

Sukhani told CNBC-TV18, "On the chart there is nothing to buy in TTML but if our promoters are wise and they keep on getting these Japanese companies then certainly there is an arbitrage opportunity. You buy it hoping that there will be some kind of a rally. But beyond that the charts do not suggest anything in fact telecom itself except for MTNL is a big zero on the charts just now."

Disclosure: Analyst has delta neutral positions in the Nifty and investments in the shares.

Source: Moneycontrol

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DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.