Ambuja Cement likely to decline: Sukhani

Technical Analyst, Sudarshan Sukhani of s2analytics.com feels that Ambuja Cement likely to decline. “One can avoid Reliance Capital,” he adds.
 
Sukhani told CNBC-TV18, “Ambuja Cement and ACC are topping out and giving the impression that a correction is coming because these are strong trends from which they are topping out. It is not an immediate decline but the trade here, is to sell it. People who are uncomfortable selling a strong sector, do not buy it but short sellers can be rewarded.”
 
He further added, “Technically, Reliance Capital is a buy but one of the advantages of being a trader is that we do not have to buy it. Reliance Capital has been falling for the last two days. It is giving first signs of exhaustion. So maybe it is in an uptrend but we would like to wait and see whether the uptrend is sustained or whether a deep correction is coming. It is ideally avoid.”