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Last Updated : Dec 29, 2016 01:30 PM IST | Source: CNBC-TV18

Sell Arvind, BoI, Tata Comm; buy Mindtree, ACC: Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can sell Arvind, Bank of India and Tata Communications and buy Mindtree and ACC.

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "I have more shorts signals than long buys. Arvind is a short sell, that stock has already collapsed from large distribution patterns. It is in the bear market of its own. There is more downside. Banks did nothing yesterday, the reason why I have become a little down beat, so quickly is because the banks are not participating and they did not participate in day before's rally and in yesterday's rally, very mildly they did it. So, Bank of India is a short sell but I would suspect that most PSU banks can be sold into."

"Tata Communications had a very nice rally and a dream bull market is now distributing and that is not good news because if good stocks are giving signs of distribution it means this market is not willing to go higher. So, three short selling ideas," he said.

"Just to balance it, IT still holds on its own. Mindtree is a buying opportunity. Cement and infrastructure are given the first signs of life. So, ACC is a buy. Overall, it doesn’t appear that this market is going much higher."

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First Published on Dec 29, 2016 09:04 am
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