Sell Sterlite Ind, Wockhardt: Sudarshan Sukhani

Sell Sterlite Industries and Wockhardt, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Sterlite Industries is a short sell. Traders have to understand that not everything that’s a sell needs to be sold, but on the charts it’s broken down; Rs 108 was support level. It yesterday simply crashed through it and went much lower. That tells us that if not anything at least a deep correction has started in it. So at some opportunity maybe the decline will continue today. Maybe there will be a small rally. The trade is to sell it."

He further added, "Wockhardt surprisingly is a sell. That doesn’t mean the larger trend for the stock has changed, far from it. But it means that once the stock starts coming down after that vertical rally, there is no support, because the rally was one sided. The chart support comes at Rs 925 which is far away. So for a short-term trader it might be interesting to go and sell Wockhardt in anticipation of small profits or a quick trade."