Short Colgate Palmolive , says Sudarshan Sukhani of s2analytics.com.
Sukhani told CNBC-TV18, " Coal India sometime says I am going to go above Rs 300 and sometimes it also starts giving signs of short-term top but as of now the charts are saying there is some long side momentum in this stock, so we will go and buy it."
He further added, "In any case the risk are evident, Rs 300 is support level, so even an intermediate position trader knows below Rs 300 he has to get out and for all you know this could be a significant rally. It's a slightly confusion chart tipping on the bull side as of now. So Coal India is a buy, Rs 336-340 could be a target for it."
"It's not Colgate alone, all FMCG stocks are suggesting that they are ready - Dabur had come in my list earlier - they are ready for a downside move and that's not surprising because once the broad market starts going up FMCG no longer becomes the favourite play and that's getting reflected on the charts, so we are having Colgate as a short sell."
"The chances are that it's going to go through a very decent correction and the risk on the upside are very low, so it's a relatively safe short sell. So look for a target of maybe Rs 920 or maybe even lower."
