Sukhani told CNBC-TV18, " GAIL India has been a very disappointing chart. The rallies have been facing severe resistance and then we have seen a sharp decline. It has fallen from Rs 380-340. It has taken a bit of time. At Rs 340 it is on the verge of a breakdown. If the markets are cheerful this breakdown maybe postponed or may not happen. But it is very unlikely that we will see GAIL rallying. So it is worth taking a short position if the trader has a portfolio of a number of long positions and GAIL is appropriate for that."
He further added, "Bharti Airtel is doing the same thing that Idea had done and Idea broke out and it is now pausing. Bharti's breakout yesterday does not tell us it is the end. It is probably the beginning of a move towards Rs 300, so there is money on the upside here."
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