Short Gail , says Sudarshan Sukhani, s2analytics.com.
Sukhani told CNBC-TV18, "GAIL broke Rs 425 levels and Rs 400 levels, it shouldn't have. There is no reason apparently but there is something going on which tells us that this stock is coming down and it's fallen almost 10-15% from where it was. From a trading range it has almost collapsed, so GAIL is a short sell."
He further added, "There are two messages here; first please don't think this is a buy on dips or a falling knife straight. If traders can avoid buying short selling candidates that itself gives them an edge. For those who want to take a short sell GAIL is appropriate, in fact if you have a small intraday rally you can just go and sell it."
" HDFC has missed out. It's not done what it normally does. It leads the rally and then on the declines it has shallow declines. But this time it's very unusual. Yesterday the signs were that HDFC is now prepared to begin a breakout and move up. We will find out but I think if the Nifty is going up HDFC is likely to participate sooner or later, charts suggests it will be sooner. So traders should also focus on HDFC today and once they find a breakout they could use HDFC as a surrogate for the Nifty."
