Short ITC, says Sudarshan Sukhani

Short ITC, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Cement stocks are now divided in two parts. Ambuja Cements is still not a sell, it is not a  buy either because Ambuja Cements and ACC in yesterdays choppy conditions tell us that they are on the verge of  being sold into. But I would wait before selling. As of now the trend is still up, it could change today."
He further added, "The big decline in ITC is telling us that at least a short-term top is now in the making. Some of these  big highfliers could come down significantly if the Nifty were to come lower because these are the stocks that  contributed to the rally in the Nifty, HDFC, HDFC Bank, ITC, Hindustan Unilever (HUL) and these are the ones that will  have to come down if the Nifty is going to give up some points. So ITC at this point is a short sell."