See deep correction in Crompton, sell Siemens: Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Crompton Greaves is looking lower. It seems that the stock has gone up and bounced against strong resistance making some kind of a much larger double top, not confirmed but that is a previous stop where the resistance came in. Now the momentum is down and generally the capital goods sector is showing signs of distinct weakening. So, I would expect Crompton Greaves to embark on not only a short-term downtrend but also a much deeper correction." "Siemens has been making newer lows all the time. It is a short-term selling idea. Earlier also it was in our sell list and the short selling is available and valid," he said. "Bharat Electronics (BEL) is very weak in the sense the same distribution is available and the patterns are visible which were there in the other capital goods stocks like Crompton Greaves and even Tata Chemicals, which is not capital goods. There is a recurrent theme, capital goods is weakening, sell it. Banks are already weak, public sector undertaking (PSU) banks are at lower levels."