Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "It is a very disappointing chart. Rural Electrification Corporation (REC) and Power Finance Corporation (PFC) both have given a large head and shoulder formations, which are now breaking down which means that their declines are just starting. And if that is so then they are going much lower than where they are."
"Midcaps are giving selling opportunities now. The largecaps probably have done their bit. Go short in REC, go short in PFC also," Sukhani said.
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