Sukhani told CNBC-TV18, " Sterlite Industries had a narrow trading range for about one and a half months almost like the Nifty and it broke down yesterday of all the days, so even relief rallies here are going to be tepid. We can go and sell in strength if the market shows some kind of rally and much lower levels are coming. The entire metals pack is dismal, the charts are dismal. I do not know what they are forecasting but whatever it is, it is not bullish."
He further added, "Gail has been in a downtrend of its own. It has again broken down from a trading range and this is not the first breakdown, it has broken down repeatedly. It makes the range, breaks down, comes lower then develops a range again. It is a classical downtrend or a bear market. So Gail has just broken down and more downside is coming. It is difficult to imagine it rallying also. So you just sell whenever you can."
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