Short Colgate Palmolive: Sudarshan Sukhani

Short Colgate Palmolive, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Colgate Palmolive (India) seems to have suddenly turned. It was a V shaped decline; this rally from Rs 700 to Rs 1400 and now this relentless selling. We have seen this in Hindustan Unilever (HUL) also how suddenly the bulls simply vanished and a lot of pessimism came in. Same story, the end is not in site and just like HUL Coalgate will not end with a big bang.”
He further added, “It will end eventually when it starts building a base that could take more time. It is a good day trading bet also on the short side because it is a high value stock and you can get money even in a day trade.” Disclosure: I have no holdings in the stock discussed.