Sukhani told CNBC-TV18, "What we saw in Bharti Airtel was a relief rally and then also the suggestion was that we should be looking to go short in it and my own idea is that we should eventually see Bharti slide well below Rs 300 which will give us a good buying opportunity but for traders Bharti is a sell and so is Idea Cellular."
He further added, "I was upbeat for a short-term time horizon for BHEL because generally I have been suggesting that the lows are yet to come. So if the Nifty is going to make new lows then BHEL will regretful participate in those new lows. But for the short-term this small rally we saw BHEL gave sense of outperforming as did L&T but that fizzle out the moment a broad market starts going down. These will now participate on the lower end actively."
"The BHEL and L&T which are doing all the right things will now do the right things from the downside so IT should remain a relative outperformer but banks and capital goods can contribute significantly and if we leave aside IT and pharma which will remain outperformers. The third is the oil and gas group just ONGC was giving signs of life, ONGC likely to crack so will Reliance."
