Short Cipla, says Sudarshan Sukhani

Short Cipla, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Cipla’s sense should have been that we are going to see a correction and a renewed uptrend. On the other hand what it has done is that the correction has taken the shape of a bearish distribution, a bearish head and shoulder and it is breaking down. If defensives are breaking down then what is left in the market? That is a big question mark.”
He further added, “Cipla is now clearly a short sell. You sell it for intraday, for positional purposes, for a swing trade and if it rallies, you look to go short again. Buy puts, do anything else. It is no longer a buy and it is a worry also."