Short Polaris, says Sudarshan Sukhani

Short Polaris Financial Technology, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Yesterday I had explained that the TCS' chart is looking bearish. It is cracking at Rs 1,200 and making an intermediate top. I do not know what will happen. I have some short positions there. Polaris is my choice for today. It has made a bearish head and shoulder. It's broken down. So there is much downside that is just beginning to happen."
He further added, "If one get a rally then that will be a good location to sell it. Buy Put, it's actively traded counter in the F&O segment or just sell Futures but the trade here is that it's going with the IT index and probably moving much lower."
"Reliance Infrastructure has a very dismal chart. It had a v-shaped rally. I am always suspicious of v-shaped rallies because there is no grounding there and there is nothing that the smart money is putting in, suddenly operators, so-called traders come and start pushing the stock up which is exactly what happened with Reliance Infra and now for the last seven days it's falling relentlessly day after day."
"It will fall much more before it finds support and then says okay maybe this rally is genuine, one does not know. But it is going to take some time, so there is significant decline in the offing here. If the Nifty corrects more as I assume Reliance Infra will be a big underperformer on the downside. So it will go down much more."