Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "ICICI Bank is an exception and that is the reason why the Bank Nifty is up; whatever up it is. Even ICICI Bank at some point, maybe today, maybe tomorrow, becomes a short sell. The rally probably will spend itself."
"The trades are primarily on the short side. Dabur India is a short sell. All FMCG stocks are now turning weak. Colgate was a sell in the morning and Titan Company also and we are just adding Dabur to that list," he said.
"CESC is a short sell. Midcap stocks are weakening. CESC has more or less confirmed a large distribution pattern and that tell us that a deeper correction is in the offing."
"Bajaj Auto, a bluechip is a sell. The fact that bluechips are giving signs of short selling tells us that the market won’t go up in a hurry; at least that is the sign so far."