Sukhani told CNBC-TV18, "McLeod Russel had a very deep decline, Rs 260 to 180. Its rallies on the back of the Nifty, but the charts suggest that it has reached a point where it should face significant resistance that's around Rs 220. So this is a stock that could actually now start facing resistance. It's a short sell. In a choppy market it is possible to go and sell a stock and make some money. Too much expectation should not be built into the selling idea, but I assume it's going to go down, maybe to Rs 210-215.
He further added, " Havells India has been a relatively outperformer. Yesterday it went and tried to cross the highs it had made at Rs 430 and then fell completely. That could be the first sign that the highs that Havells has made are likely to sustain."
"There is a significant risk. We are trying to sell almost at the top of a move. So keep a stoploss. Understand that this could go wrong. If it goes right, we can have a very significant correction on the downside and it's worth looking at."
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