See lower levels in HDIL, says Sukhani

Sukhani told CNBC-TV18, "HDIL is now breaking a significant support level and promising at least Rs 15 lower and that applies to DLF also. The only caveat here when we discuss these stocks is that they will go with the broad market, they will go with the index finally. We are seeing cracks in the index and these patterns have emerged just looking at much lower levels. In the very unlikely event of the index suddenly turning around things could change."

He further added, "I wouldn’t buy Dabur India now. Once the broad market decides to come down I don’t think buying should be high on the priority list. A lot of stocks are avoids. You don’t go and short sell Dabur, HUL or ITC. But this is not a time to buy any of the three."

"HDIL and DLF have the same patterns. They have confirmed their double tops, they are now today breaking down below the support levels, which should give them much lower levels. The only point is the chances are they will finally reach their downside targets. In between a short covering rally can always come."