Sudarshan Sukhani, s2analytics.com advises traders to short Aurobindo Pharma and IndusInd Bank.
Sukhani told CNBC-TV18, “There are a lot of opportunities in market, and it is a question of just picking up a few. While it is not easy to say this is the best of the worst the ones I would look at are banks and selected companies and that includes pharma and almost everything else.”
He further added, “We have Aurobindo Pharma, it had a dream run. It doubled itself but now it is gone through a distribution and this is the worrying part. High quality stocks are showing sings of distribution and cracking down. Aurobindo Pharma is a short sell, it is a short sell because we have already confirmed bearish patterns and much lower levels are coming. We could think of it as a deep correction but in any case the prices are moving down.”
“I have already expressed my view on private sector banks many times. Most private sector banks are short selling opportunities. IndusInd Bank is a stock that has just completed a bear market pattern and is now willing to go lower. Remember, they had all rallied significantly and substantially so their corrections could easily be as deep as the rally. Here is a stock that I would be looking to go and sell.”