Sell JP Associates, advises Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Jaiprakash Associates had a big stupendous rally and then a distribution. It went up and now faced strong resistance. It has turned down from there. So selling should be done with caution because the theme is that we are likely to go higher but there will be some stocks which go choppy and which can fall."

"JP Associates is likely to be in that group. So somebody who has long positions would be justified in selling JP Associates. Don’t just take a short position in JP Associates and nothing else on the other side. That would be unwise," he said.

Disclosure: He has no personal interest in the stock discussed.