Sell Mcleod Russel, says Sukhani

One can sell Mcleod Russel (India), says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Mcleod Russel (India) is a sell now. It has stopped out. It has made a very bearish head and shoulder that suggests that a big rally in Mcleod Russel is over and a significant decline has started. The news is that it represents the tea industry.”
He further added, “I am not sure what these companies are giving us as messages, but whatever it is, the midcaps are not giving good signs at all. Much lower levels are coming, not immediately but every rally, every breakdown in Mcleod Russel as we had a seen a breakdown on Friday and a continuation today, these breakdowns are now short selling ideas."