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 HDFC, JSW Steel, Apollo Tyres, Oriental Bank of Commerce (OBC) and Union Bank of India.
“I have more sells and these sells are always intraday still today chaotic market suggest there maybe money on the short side. So, Apollo Tyres, all tyre companies are in trouble, you look at the charts of the Apollo Tyres and Ceat they are steadily coming down. I don’t think the decline in crude is going to help them in any way. There are lower levels coming Apollo Tyres is an intraday short. Two PSU banks, both have the same charts, bearish patterns confirms lower levels likely, Oriental Bank of Commerce (OBC) and Union Bank both are short sells. JSW Steel is an excellent buying opportunity. This was the star of those last erstwhile bull market then it fell into trouble. This is an investment buy, it is a positional buy and of course it is an intraday buy for today. HDFC should put its act together, it is outperforming a small dip is probably complete. If not anything it will give us some small money in that choppy market.”
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