Short Unitech, HDIL: Sukhani

Sudarshan Sukhani, s2analytics.com advises traders to short Unitech and HDIL.

Sukhani told CNBC-TV18, “Out of the three- Unitech, Indiabulls Real Estate and Housing Development Infrastructure Ltd (HDIL), I will leave aside Indiabulls Real Estate. There is no buying there but I wouldn’t go and sell it.”
He further added, “Unitech has now confirmed a bearish pattern, the news was just an added spice, this would have come down anyway. So Unitech and HDIL are both short selling ideas. They haven’t reached pattern targets on the downside. Short selling is not easy for example the third stock we are not discussing that but it is IFCI. IFCI has also confirmed a bearish pattern suggesting a downside target of may be even Rs 28. So for traders there is sense in taking positions here while they could actually go long in the Nifty as I have been trying to explain, they would have short positions in these weak areas.”