Short GAIL India: Sudarshan Sukhani

Sukhani told CNBC-TV18, "GAIL India had this rally. We thought maybe the bear market in GAIL India is over and then the sharp and sudden crack to Rs 330 came and it is now breaking all kinds of support levels.”

He further added, “There is a theme here. That theme I have been explaining earlier that metals are the most bearish of the lot. That seems to be playing out on the charts. We do not question and say okay, this is enough, it cannot go down further. We know it can. Broadly, a lot of process time will be taken before this sector bottoms out. So GAIL India is a short sell and lower levels are coming."