Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "This is a down trending market and we are also prepared for those sharp bear market rallies and that is not hopefully going to shake us out."
"Arvind is a bearish pattern, a bearish head and shoulder now in the making. These are the high fliers of yesterday, I suspect many of them will see significantly lower levels by the time this decline ends. That is a short sell. Capital First has been weak, more weakness is likely."
"Cummins India is an engineering company, capital goods company which has been an underperformer. That underperformance continues, it is a short sell."
"Equitas Holdings which was showing signs of life building a base has now suddenly decided that this was only a consolidation in a down trend. That is a short sell."
"Strides Shasun is a buy that is a symbol star and it is part of the pharma pack. I still remain upbeat on pharma. Some pharma stocks could go up while this market tumbles."
"Vedanta is a buying opportunity if you are an investor, not for a trade but it is an excellent buy at current levels. Don’t expect the big decline in this one. Tata Steel, Hindalco are other stocks that will fall much further."
"Bank of India is a short sell, PSU Banks are easy short sells and so is Hindalco in spite of yesterday’s decline both can be looked for selling intraday," he added.
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