Sudarshan Sukhani of s2analytics.com told CNBC-TV18, " Reliance Industries has made a double top, confirmed it and is now in the process of making another bearish pattern, a very large head and shoulder which is not yet confirmed. In fact a lot of heavyweights have now started giving the same pattern like HDFC Bank , ICICI Bank and Axis Bank ."
"Reliance, these three private sector banks and housing are all short selling ideas. The trend is a little choppy but the first signs of possible weakness are coming, so we should take the trade," he said.
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