Sell Sesa Goa, CESC: Sukhani

Sudarshan Sukhani, s2analytics.com is of the view that one should sell Sesa Goa, CESC.

Sukhani told CNBC-TV18, “All metals are weak except for Tata Steel to some exception. Sesa Goa is probably the weakest of the lot. It moved lower yesterday. We are going to get this gap up, whatever the gap up is. There is no rush to sell but it’s a stock that we should sell into strength if we see any kind of strength in the first few hours. I would say sell Sesa Goa, there are opportunities on the short side." He further added, “CESC has made a bearish head and shoulder pattern. It’s on the verge of a breakdown. That breakdown may not occur today as the Nifty itself maybe a bit more cheerful. But the Nifty is likely to remain in a trading range. So, whether it’s mid-afternoon or any time, CESC becomes a sell. A lot of the midcap stocks are making bearish patterns and some of them are making bullish pattern. So, we need to divide midcap into half. We cannot generalize and say buy any midcap.”