Short Max India, says Sudarshan Sukhani

Short Max India, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Max India is an unsure sell. It went into a correction. That correction should have been over. It’s not doing that. It’s drifting listlessly and day by day it’s making slightly mildly bearish pattern, so the trade here is also to take advantage of what could be a deeper correction than we thought. It’s not a downtrend but for short-term traders, for day traders Max India is a short sell because it could slide more, breakdown, reach Rs 180 and there is some money on the downside if that happens."
He further added, "Alstom Projects has been a disappointment. I saw that bottomed out but the charts are not suggesting that, so in a choppy environment Alstom has a trading rang in which the lower band is Rs 340. It touched Rs 360-365 which as the upper limit. Now it seems that it’s now going to go and touch Rs 340 again. So for short-term traders there is a 15-20 point possibility of taking advantage of a decline. This is not a positional trade but for short-term traders that much of points is good enough."