Sell NTPC: Sudarshan Sukhani

Sell NTPC, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "NTPC came as a sell even a few days ago, it has declined so much and even after that there is no sense that the decline is coming to an end. We had a rounding top pattern in the charts that suggest that an intermediate top has been made and NTPC is going lower. Now it doesn’t actually have to fall a lot but it is a nice idea to have at least one or two short positions in an up trending market. They act as hedges and sometimes they even make money when the markets are choppy. NTPC is very weak so it is almost a perfect sell." He further added, "Gujarat Fluorochemicals has been a darling of yesterdays. Two years ago it was the momentum stock to trade in on the long side and then it went through a bear market. A rally told us perhaps the worst is over but no that’s not true, like in many other midcaps these rallies really falls or rather are just bear market rallies. It has come back again, broken previous lows and it is just on the verge of a breakdown from a trading range. I don’t know why it is doing this but clearly the market is very disappointed with it, it is in a downtrend and it is a good short sell for today. The breakdown is just imminent."