Sell Gujarat Fluorochemicals, says Sukhani

Sell Gujarat Fluorochemicals, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Gujarat Fluorochemicals has been a repeated sell. There is lot of resistance at Rs 350, it goes up to Rs 350, finds resistance and retreats. It has done the same thing. Three days ago it touched Rs 350 and started coming down. This is a very poor looking chart. Earlier there was an impression that may be the bear market is over but evidently it is not over, something is going wrong with the prices."

He further added, "Aditya Birla Nuvo has been a favourite from Rs 800 onwards. It is relatively slow. I would have expected and hoped that it would show very smart rally, that it has not done although it has moved up above 35 percent. So it has outperformed the Nifty but the kind of momentum we have sometimes seen in other stocks has been missing. That’s alright so far as we get steady gains it is good."

"After a trading range it is again breaking out on the upside. A lot of these stocks have done yesterday and likely to do today what the Nifty has already done, breaking out of a range. So these are the stocks we want to track. In a market that remains steady, a lot of stocks will make these new highs which the Nifty is now doing."

Disclosure: I have no holdings in the above stocks.