Stay away from Suzlon: Mithil Pradhan

In a chat with ET Now, Mithil Pradhan, market analyst, talks about the outlook of Suzlon.

Suzlon has been the worst performer on the Nifty today. Is it time to do value picking or stay away from the stock?

The broader stock market — Nifty, Sensex or the other components of benchmark indices — have been into a steady uptrend, but if you look at this particular stock, it has underperformed the index for quite a long time. Looking at the charts, I do not see any reason why one would buy the stock as the bottom has not formed, in fact, even if it holds to this current level, it will take a couple of weeks for the stock to give characteristics of a bottoming out process. I do not think that is happening right now the best way is to stay away.