Short GMR Infra, says Sudarshan Sukhani

Sukhani told CNBC-TV18, “GMR Infra suggests that it’s going to revisit its 2008 lows and that’s a good 30% lower from where we are now. So there is a shorting opportunity in GMR Infra. I need to explain this one. We have been falling for the last 4-5 days, a sudden sharp reversal can occur anytime that will be short-lived in my opinion, but short selling needs to take into account the fact that markets can reverse just on a dine. So traders have to be careful that their volumes are manageable and they are prepared to take these short-term reversals in their stride.”

He further added, “ Tata Consultancy Services (TCS) is certainly an outstanding stock. There is some way we can say that okay, if this market gets some kind of stability, TCS is going to outperform. So that is the first pick I would say. We can go to the second-run stocks, Polaris’ charts now appear to be suggesting that some kind of a bottoming out process is going on there, so that is a second stock we could be looking at.”