Sell Godrej Industries, says Sukhani

Sell Godrej Industries, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Godrej Industries is a sell and it’s been a sell earlier also, it’s coming down and broadly the consumer space and the pharma space is now suggesting signs of distribution. I have explained my views earlier also. Godrej Industries is a short sell, it is not necessarily in a bear market but it’s likely to go through a deep correction. There is money on the downside; it’s also a hedge if you are taking long positions."
He further added, "Same for something like Bata, they had a dream run. Bata has rallied from Rs 150 to Rs 800 plus. Now it’s not a bear market but Bata can correct 200 points and not change its trend, it can still remain in a long term uptrend. That’s exactly what I think is going to happen. Bata is now a trade on the short side. Those who are uncomfortable must remember not to buy Bata as of now but for most traders it’s a good idea, sell into these rallies. Bata is now showing a lot of weakness, there is money to be made here."