Tata Steel, Hindalco, Sterlite Ind to underperform: Sukhani

Sukhani told CNBC-TV18, “The entire metal space is underperforming and it’s likely to underperform. So SAIL, Tata Steel, Hindalco even Sterlite Industries to some extent and Sesa Goa all of them are selling candidates.”

He further added, “I want to tell traders who are listening that short selling in best of times is difficult act and broadly the markets are choppy so you have to be little careful about your stop losses, about your targets. But I would expect all of these stocks to find lower levels in the next five-seven days. FMCG haven't given any signs of imminent weakness. There is a correction, there is some decline but the short selling ideas are primarily in metals and banks.”

“ Essar Oil , we have technical picture that suggests bullishness and news that is mildly bearish. It is far better to go with the technicals. On the further dip, I would be a buyer in Essar Oil rather than a seller.”