Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "I have been suggesting going short in PSU banks for sometime. It has been working and Dena Bank is one of the weaker PSU banks. The stock is now breaking down from a narrow range and suggesting that lower levels are coming. So for traders who are looking to trade for tomorrow Dena Bank is a shorting opportunity."
He further added, "The same applies to Bharat Forge. It had a handsome rally. That rally led into distribution finally and the distribution has led to a new correction or a decline. This is a cycle that happens with most stocks. You have accumulation, then a run up, then distribution and then a correction. Bharat Forge is going through a similar correction. It is a short sell and I think there is more downside here."
"Bharat Heavy Electricals (BHEL) has been a favourite for sometime. It came out of a very nice handsome head and shoulder pattern on the upside, a bullish pattern and after a small trading range it is breaking out again. People who buy BHEL today can get rewarded not just today, but also if they carry their positions for a couple of days," Sukhani said.
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