Short Ranbaxy: Sudarshan Sukhani

Short Ranbaxy, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Ranbaxy charts are not very attractive. They are telling us that the rally we saw was probably some kind of a bear covering rally rather than something else and we have been talking about the fundamentals. But on the charts I would not touch it. It's a short sell."
He further added, "Arvind is now at current levels for the last 15 days and it is making a trading range. That trading range has a pattern which suggests that its half way in its downtrend. So the final targets for Arvind should be somewhere around Rs 60. I would assume that a trader short sell it and that short sell should look for a much more modest number, Rs 75-76 but eventually I am seeing it at Rs 60."