Short NTPC, says Sudarshan Sukhani

Short NTPC, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Cement is going through a correction. I had suggested that this correction is going to be deep and there is no rush to buy cement stocks. That seems to be working out. So Ultratech Cement is not in a downtrend of any kind. So we do not say that okay, this is a stock that we want to avoid."
He further added, "For short-term traders, even a correction sometimes is tradable and that is happening in Ultratech Cement. Yesterday it broke from a support range and it tells us that there is more downside here. So what we do is we try to trade the downside till significant support comes in. That may take time."
"NTPC is a very disappointing stock. It is in a downtrend. For example, Ultratech is in the correction and we are trying to trade that correction but NTPC is in a clear visible downtrend. So we want to go and follow that trend. Yesterday, the signs were that a new decline would start probably today and that is something we want to catch on to. So NTPC is a short sell, probably a positional short."