Sell Glenmark Pharma, says Sudarshan Sukhani

Sell Glenmark Pharma, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Idea Cellular has a very good chart, similar to Bharti. In fact Idea because it is a relatively laid back stock and not in the heavy weight Indices, so maybe it has more upside in terms of percentages. Idea and Bharti are suggesting that some kind of bottoming out process is on. They are good charts at the bases and we should be buying them."
He further added, "Glenmark has had a one sided, almost a vertical rally but for the last 10 days there are sings that this rally is now stalling. We have something that is called long shadows on the charts, which means highs are made but during the day they are not sustained. The price comes down lower and closes at the lows of the day. That is happening in Glenmark consistently, it has happened 2-3 times. That tells me maybe at least a short-term correction is in the offing. For day traders, it is a sell not a buy."