Sell GAIL India, says Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can sell GAIL India.

Sukhani told CNBC-TV18, "GAIL has made a bearish head and shoulder. It’s a confirmed distribution pattern and broken down from it. It has never been a favourite. It’s been coming in our sell repeatedly. Small rallies, big selloffs and that pattern remains. So it is a short sell, probably a positional short sell and also a hedge. If you have long positions you can sell GAIL and have a hedge. It’s one of the weakest stocks in the universe."
He further added, "Indiabulls Real Estate is a buy as are most midcap stocks that we are discussing but I wouldn’t buy it. There is one thing to say that this is a buying opportunity when it comes to a level I am comfortable with. It has rallied, it had made a flag yesterday, it did a very decent breakout and came out of that flag. But given today’s likely choppy conditions we want to wait for a correction or a small dip before we go and buy it. It is obvious that the trade has been on the long side."