Avoid IRB Infra, West Coast Paper: Sudarshan Sukhani

Avoid IRB Infrastructure Developers and West Coast Paper Mills, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "IRB Infrastructure Developers is a short sell. It has done its bit. It has rallied. It has reached Rs 150 and now there is a clear distribution pattern which is breaking down. It has broken on the downside. Short sell or avoid."
He further added, "In West Coast Paper Mills there is a parabolic move from Rs 50-125 in just a few weeks. This cannot be sustained. We saw a similar move in AP Paper when it rallied from Rs 170-400 and then suddenly it fell all the way back to Rs 200 after which it rallied again, but you cannot make money on these kinds of gyrations. So I would avoid West Coast Paper completely. At Rs 125 it is not a buying opportunity. If this is genuine, it will correct half of what it had rallied and then perhaps buy it."