Sell Cairn India, Hero Motocorp: Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, “The broad trend of the market is mildly on the downside. So we will go and sell. The first of the short sells is Cairn India. It went to Rs 315 and then simply couldn’t cross that and then after making a trading range, today it is breaking down from that range.”

He further added, “Any stock that breaks down from a trading range shows significant downside momentum. So at current levels, it is a short sell expecting some more downside. Second of the selling ideas is Hero Motocorp. It had a decent rally, that rally has stalled just as the Nifty rally has stalled. It is now on the verge of a breakdown, it hasn’t done so. We are anticipating a breakdown today as it is weakening. So here is a short sell again. Both ideas are for selling.”