Short Godrej Industries: Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can short Godrej Industries.

Sukhani told CNBC-TV18, "This is probably a beginning of a rally in cement and cement sometime does its own thing. It doesn’t necessarily go with the Nifty or get chopped around if the Nifty is choppy."
He further added, "ACC fell from almost Rs 1,300, its gone through a decent correction, a small base building exercise has been going on, its broken out yesterday and this breakout should be bought into. I am not sure if this is a day trade because on a day to day basis ACC doesn’t do much but if somebody holds on to this till next week I think there is money on the long side."
"Godrej Industries reflects the theme that fast moving consumer goods (FMCG) and pharmaceutical to some extent are growing out of favour and that is because one is getting into risk on environment."
"Godrej Industries is a short sell, not because it’s in a bear market but because its distributing and suggesting that lower levels are coming, enough for traders to go short in and I am assuming that the market are going to get choppy. We won’t get those rallies in the next few days, which we are thinking of then short ideas are good to take and especially non-Nifty stocks should be used."