Short CESC, says Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "CESC started a rally from Rs 260-270. The stock went to Rs 370 and stalled there. It made a fairly bearish pattern, it is breaking down, it has already broken down from that pattern. So we are now seeing a continuation sell."

He further added, "It is likely to eventually go below Rs 300, go back to Rs 270 level from where it started a rally. That is disappointing but most midcaps are doing it, so we just accept it as a pattern." "CESC is a short sell, assume a target of Rs 300-305 in the next two-three days and probably much lower levels eventually." The share touched its 52-week high Rs 367.95 and 52-week low Rs 252.70 on 04 July, 2013 and 28 March, 2013, respectively. Currently, it is trading 15.36 percent below its 52-week high and 23.25 percent above its 52-week low. Market capitalisation stands at Rs 3,924.27 crore.