IRB Infrastructure can test Rs 110-105: Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "The Nifty has made a bearish head and shoulder and confirmed it. The Bank Nifty has done it. Now once a pattern is available on the index, similar patterns are likely to be there in individual stocks.”

He further added, “IRB Infrastructure Developers is one such stock, a bearish head and shoulder, a similar pattern has been made and confirmed, telling us that the small rally that we saw was a relief rally and it is going to go down and test its Rs 110-105 levels again. That is as bearish as it can get. So today momentum should be on the downside, a breakdown occurred yesterday. Look for lower levels, if it works then carry it forward.”