Sell IndusInd Bank, Bank of India: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "PSU banks have been beaten down badly and yesterday all the gains that they notched up were lost. So, PSU banks should become a sell, once markets consolidate and start breaking. It is an easy trade to expect that markets will then oblige us by going down all the way and breaking support levels.""We don’t have any supportive patterns anywhere at all and the markets can move randomly for far more time then we imagine. So, it is best to stay away from PSU banks till they give us decisive patterns again for selling. IndusInd Bank is giving us a pattern, it is giving us a message that the highs are not being sustained. The big waterfall declines we saw are likely to continue. It is an easy sell," he said."Primarily if you have a positional view then you could sell any of the names – Indian Overseas Bank (IOB), IDBI Bank, Syndicate Bank and Bank of India (BOI). Bank of India is an easier sell for me. However, don’t expect a day trade there."