The latest analysis and commentary by stock market guru Sudarshan Sukhani of s2analytics.com on what is moving the markets today.
He shared his views and readings on Bajaj Finserv, UltraTech Cement, Indiabulls Housing Finance, Reliance Capital, United Spirits, and ICICI Bank.
"It has to be a buy on Bajaj Finserv. Bajaj Finance and Finserv both have the same charts, they are remarkable. They show us gains, yesterday also when the market was going down. So Bajaj Finserv is a buying opportunity and that is one of the very few opportunities. The other is UltraTech Cement. UltraTech did go down yesterday, but it still holds on to its support levels. The small declines we are seeing could see an intraday rally on the upside. The sells are primarily NBFCs. I am very downbeat on NBFC. I think significant pain is coming ahead before they bottom out; they will at some point but not now. So, Indiabulls Housing Finance is a short sell and unfortunately Reliance Capital is a short sell. It has become one of the weakest of the weak. United Spirits is a short sell. It has broken down support levels yesterday. The chart is pretty bearish there," Sukhani said.
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