Avoid Reliance Infra; sell Ranbaxy Labs: Sukhani

Sudarshan Sukhani, s2analytics.com advice traders to avoid Reliance Infra and sell Ranbaxy Labs.

Sukhani told CNBC-TV18, “I would avoid Reliance Infrastructure. All infrastructure stocks should be avoided. We must keep in mind the fact that the Nifty is not at 4700-5000, it is at 5620. The second point is that infrastructure has been a complete laggard throughout this up move. Now everything is going up but there are no assurances and no guaranteeing that when the markets correct, when the next uptrend resumes this stocks will join the party.”
He further added, “The idea this time is to focus exclusively on the out performance. As we are seeing today and I have said many days now banks are expected to be the out performers.”
“We are looking at short selling also now because in choppy markets both options are there. Ranbaxy has turned fairly bearish as have most pharma stocks but the others cannot be sold like Dr Reddys and Sun Pharma. Ranbaxy can be short sold that is the trade we are looking out for tomorrow.”