Sell Bank of India, Gujarat Fluoro: Sukhani

Sell Bank of India and Gujarat Fluorochemicals, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "The charts are terrible and making new lows. Some of the public sector undertaking (PSU) banks chart are in such a dire state that we are looking at a kind of a bear market rather than just a correction. This is not a correction. These stocks are falling. So Bank of India is a short sell. In a choppy market we will have opportunities to buy and sell both. Bank of India is an excellent opportunity on the sell side. If there is a rally sell into the strength otherwise wait for a breakdown and sell anyway.”

He further added, "Gujarat Fluorochemicals has been in our sell list for the last couple of weeks, maybe a couple of months. The stock has been falling. It was the darling of the earlier bull market. Now it is making new lows and broken down all support levels. These new lows are not going to be ending in just a day. So it is a short sell. It is relatively safe short sell."

Disclosure: I have no personal holding in the above stocks.