Global cues have been playing spoilsport to the Indian market. Sudarshan Sukhani of Technical Trends feels that the situation looks worrisome today.
Saying that the Nifty would control all the buy signals now, Sukhani added, "If 5,200 levels breaks and the Nifty finds support even lower, there is a buying opportunity. If the market rallies, then an intraday short sell is possible."
Talking about the textile stocks, Sukhani has a bearish stance on Bombay Dyeing and has a buy call on Century Textiles. While he suggested a short-term trading for professional traders on Bombay Dyeing, he pointed out that Century Textiles has more money on the upside as the stock has been moving slowly and steadily.
Moreover, the expert believes Aban Offshore would continue to gain today. "If the markets go down, the stock may take a breather before going up," he explained. He also feels United Spirits would be a very good short sell. Here is the edited transcript of his interview to CNBC-TV18. Also watch the accompanying videos. Q: What do you expectation from the Nifty after yesterday
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