Short Essar Oil, says Sudarshan Sukhani

One can short Essar Oil, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Essar Oil had fallen all the way to Rs 42. It rallied back to Rs 60 plus - that rally was a relief rally as we now understand. It has been falling consistently after that. Yesterday was only a big decline but the decline had already started. Now it seems that slowly and eventually it will go back to test the lows that it made at Rs 42 - that means for short sellers there is a lot of room on the downside."
He further added, "In any case the tailwinds are also with short sellers at least for today. So Essar Oil seems to be an underperformer and probably a good candidate for even intraday short selling."
"I am cautious on Deccan Chronicle because we don