Sell CESC, HPCL; UPL may head lower: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "CESC is under pressure but it is not because of the operational results. I only look at the charts and on the charts, it is on the verge of a significant breakdown. Earlier I have suggested that midcaps are now joining the play on the downside. That seems to be becoming real. A lot of midcap opportunities are coming in the F&O segment for shorting. CESC is heading for significantly lower levels.""UPL is at least better than CESC but the stock had a rally, that rally fizzled out. It is making lower lows consistently and there is a significant resistance that it has not been able to overcome. So I assume that it will just drift lower," he said."HPCL is on the verge of making another new low. It is breaking down. There was a sharp correction that seems to be a beginning of a downtrend rather than a correction now. It is not stopping. So both HPCL and BPCL are short selling ideas. I am just taking HPCL today.""Ajanta Pharma and Bajaj Auto are giving bullish patterns and it is a pleasure to see a bullish pattern in this dismal market. So, Ajanta Pharma is on the verge of making a breakout on the upside and it has already gone through a correction, a V-shaped rally has taken place. So, it could easily do its own thing, even when the markets go the other way. So, it is more of a positional trade. You buy and hold it and suffer through any minor setbacks that come." "Bajaj Auto is a short-term trade, you take the trade only if you sense that the stock is going up, but it is giving an impression of breaking on the upside. I do not know why it will do that because it is part of a larger Nifty group.""Oracle Financial Services Software is falling down. It is making lower highs, lower lows, and it is a blue chip company which is why I am saying, except for Infosys, it now appears that IT is ready for a big decline."