Short Cairn India, Welspun Corp: Sukhani

Short Cairn India and Welspun Corp, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Cairn India is doing something very different. We talked about GAIL, even ONGC and the possibility of Reliance Industries going up further and crossing that Rs 880 hurdle, but Cairn is doing the exact opposite. It is actually breaking down on support levels. It is a very unusual behaviour for a largecap stock, but that is what it is. So it is a short sell. Even in this rising, roaring market it could actually make money on short side."
He further added, "Welspun Corp has been in a declining bear market of its own and Nifty has gone up from 4500-6600. Welspun is going down consistently. So this stock is having its own story. It has nothing to do with the broad market. That story should be cashed onto. We have given earlier also some short selling ideas on Welspun and that continues. It is a stock that is doing its own thing independently." Disclosure: I have no personal holding in the above stocks.