Short United Spirits , says Sudarshan Sukhani, s2analytics.com.
Sukhani told CNBC-TV18, "United Spirits did rally from Rs 450-650 for some unknown reason and that rally is over. These rallies we have seen in host of midcaps also. All these are not necessarily a bull market rally. They are relief rallies maybe in a bear market."
He further added, "In United Spirits I am almost certain that the rally was a relief rally after that stupendous decline. For the last two days we are seeing lower highs, we are seeing the prices fall and the bear market in United Spirits is likely to resume. It's almost a given short candidate."
" ACC has been an underperformer. While the Nifty was going up, ACC made lower highs. It failed to cross Rs 1,185, which was its previous high. It's also not crossing the Rs 1,200 levels, it had recorded earlier. So what ACC is doing, it's making a flat support and repeatedly falling highs. It's very bearish pattern eventually on the intermediate term. So apparently the intermediate uptrend in ACC is over, look to go short. The first targets should be Rs 1,100."
