Sell Bata India, says Sudarshan Sukhani

Sell Bata India, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Bata India has been coming down. These are the signs that blue-chip stocks, stocks that double, triple themselves are now going through deep corrections. That is just one of the many indicators that tell us that we are in a strong downtrend.”
He further added, “Bata made a small narrow range triangle and it has broken down from it that tells us that the current levels are just midway in an ongoing down move. That could give an eventual position trading target much lower than we can image for Bata but for the short-term trader it is a short sell and see what others like Jubilant Foodworks, Titan are doing. They are all going down, so it has very good company on the downside. I would be a seller in it, every rally is a sell."