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Jul 12, 2012, 08.23 AM IST
Short BEML, says Sudarshan Sukhani of s2analytics.com.
Short BEML , says Sudarshan Sukhani of s2analytics.com.
Sukhani told CNBC-TV18, "Once BEML started a small rally and one thought it's now done with its bear market, and that rally was tepid. The Nifty went up 500 points but BEML went up only 30 points and that was a small relief rally. It resumed its downtrend. It's difficult to say how much lower it can go but one knows that it can go much lower. So today BEML is a short sell, in fact, it's a positional short sell. Sell it, put a stop and see where it goes."
He further added, "Fast moving consumer goods (FMCG) is giving big signals. Sometimes the signals are that it's topping out but we have seen how ICICI Bank and Hindustan Unilever have been resilient. They are not giving any signs of coming down except for small and minor corrections and that is now working well for Dabur. Dabur corrected a lot, so to that extent Dabur is now stronger, the correction is behind it and it appears that if this market again begins to move up Dabur could be an outperformer, not just for today but for the next few weeks."
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