Sell Tata Steel, ONGC; Hindalco may head lower: Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Tata Steelis an easy sell. That rally is over and I am sure the fundamentals will catch up with the decline. There is a bearish head and shoulder now almost in position, not confirmed but in place, and I would be a short seller here."

"Almost the same story is in Oil and Natural Gas Corporation (ONGC). There is no bearish pattern but it has broken down from an earlier support level and making lower lows. Lower lows are never bullish and that is therefore a short sell," he said.

"Hindalco Industries is on the verge of confirming lower lows, not yet done but given the bearish scene in most metal stocks, it is likely to go down further. Tata Steel is more of a positional short; the others are there for the short-term."