Short Canara Bank: Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can short Canara Bank.

Sukhani told CNBC-TV18, "It is remarkable how the public sector undertaking (PSU) banks keep on coming up in the list. We say sell them and they keep on falling down. One of the worries I have is if the PSU banks do not rally it is difficult to imagine the Bank Nifty doing some good things and consequently the Nifty also and that is worry. But Canara Bank is weak, it’s breaking support levels. It’s not a buy, it’s a short sell, in fact most PSU banks are short sell."
He further added, "I would continue to back Century Textiles because it has made classic bull market pattern; higher highs-higher lows. So it’s now on the way to a sustained upmove, apparently the bear market in Century is over, anything can happen to the markets and that’s a different issue but it would be a stock I would back strongly on the upside. We saw some gains yesterday and today any intraday dip should be used to buy into it." Disclosure: I have no personal holding in the above stocks.