Sell Voltas and Axis Bank at current levels, says Sudarshan Sukhani, s2analytics.com.
Sukhani told CNBC-TV18, "Voltas, that cut was on the back of a very decent rally which is what is happening with many midcaps, big rallies and now the starting of big cuts. So, Voltas is now a sell. It has to prove that this cut is not just a one day wonder, Voltas is a sell. You take a stop of Rs 90-91 and look for a lower target in the 70s, Rs 72- 73. The bigger message here is that the rallies are probably over for midcaps- most of them anyway and the declines are tradable because we have visible stops. The rallies have to be crossed for short positions to be cut. Many of them will do it; many may not even do that."
He further added, "Ahead of the numbers Axis Bank is a short sell. With all short sells in this market which it has been rising till today there is some care and caution, but with that caveat, I think Axis Bank has done its bit, its completed its rally. Incase there is a surprise that's different but otherwise you can go and sell it."
