Nifty may decline further, add short positions: Sukhani

Yesterday, the Nifty gained just over 30 points to close above the 4,800 mark, while the Sensex ended the session at 16,065, up 120 points.

Sudarshan Sukhani, technicaltrends.com says, the Nifty may decline further. He advises investors to add short position. According to him, the chances are that a number of stocks will break their 2008 lows in this ongoing decline. Also read: Market is weak, needs serious triggers for a rally, says Udayan Below is the edited transcript of his interview with Udayan Mukherjee and Mitali Mukherjee of CNBC-TV18. Also watch the accompanying videos. Q: How would you approach the Nifty now? A: Yesterday, we started building short positions again, when we had that intraday rally. Closing told us that the short positions should be continued. I am assuming, the way momentum is building up on the downside again after a one day pause, that we are looking at further declines. So, I am looking to add my short positions. Q: What is your call Reliance Capital? A: This was a stock that was Rs 2,900, now it