SINTEX INDUSTRIES fell more than 21% in last three trading sessions due to redemption concern of FCC debit in year 2013. High dollar price is affecting the stock because SINTEX INDUSTRIES had taken $ 225 million from FCC. If dollar prices stays at the currant level in 2013, the investment bank expects the gross impact of Rs. 400 -500 millions on Sintex Industries( on the earnings). Any appreciation in Dollar may cause of the further weakness in stock. Stock has fallen 11.32% with hugest volumes (7.33 million) on Monday's session with the .32 Million deliverable quantity which is higher than 10-day's average volumes of the stock. Delivery based selling indicates, big weakness in the stock. The stock future has added 4.94 lac shares in short side. Stock may fall below the Rs. 100 in few trading days. Short selling is advised in stock for the target of Rs 95. If the stock goes up, then more short can be added.
