Expect downside in Pidilite Industries: Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "A lot of these bluechip midcaps which have seen remarkable rallies are now distributing. Pidilite Industries has done that part. It is now ready for new decline; it is breaking its support levels on Friday. That breakdown will lead to further losses. Let us assume that this market does find support at the 7500 zone 7540-7500 a lot of these midcaps will not find support."At 09:18 hrs Pidilite Industries was quoting at Rs 522, down Rs 7.05, or 1.33 percent.