Short Sterlite Industries: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can short Sterlite Industries.

Sukhani told CNBC-TV18, "Sterlite Industries is a positional short. We have discussed it a few days ago also. It made a bearish pattern. That was a distribution after a very small rally. It did not really have a big rally, but whatever it had that rally ended with a distribution pattern, a bearish head and shoulder is been confirmed."
He further added, "The stock price is now moving down, broken down and that breakdown is likely to be increasing as days go by. So not just for today, it is also somebody who wants to buy a Put or take a positional trade on the short side, Sterlite is quite decent in that respect."