Sukhani told CNBC-TV18, "The high beta names need to be sold off not because we want to buy defensives but because most of them are cracking on their own. So if you are a short-term trader and I am talking about the short-term trading area then you shouldn't be holding to these stocks. All of them are in significant and clear declines breaking down from support levels."
He further added, "The second is we would buy a stock like HUL only if we were willing to look at an upside. I wouldn't buy it just as a defensive. I can keep my money in the bank and wait patiently. So HUL in any case is a buying opportunity. My own sense is that it will go up, it is not going to go up in a hurry, it won't multiply like the high-beta segment but there is money to be made on the long side."
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