Short ABB, says Sudarshan Sukhani

Short ABB, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Crompton Greaves has been a very big disappointment. After that rally it has been consistently going down. It does suggest that if the markets were to fall even 100 points in the Nifty, midcaps will face tremendous pressure and the weakest midcaps will face the maximum pressure. Crompton Greaves qualifies for that. Not only should we look at it for selling today, we could actually start building a positional trade on the short side here.
He further added, "ABB is not doing anything. As we see even although it is slightly unrelated but Bharat Heavy Electricals (BHEL) also in capital goods has done the same thing. ABB is suggesting a downside is just beginning here. Any rally in ABB we saw was facing significant resistance. So, this one has come in my list after a long time and unfortunately on the short side. Again here a positional trade is probably justified."