The latest analysis and commentary by stock market guru Sudarshan Sukhani of s2analytics.com on what is moving the markets today.
He also spoke at length on Larsen & Toubro (L&T), Bajaj Auto, ICICI Bank, IndusInd Bank, Bajaj Finance.
Sukhani said, "HDFC is a buying opportunity, so is IOC and Havells. The buying should be taken in context of the Nifty where I think that a consolidation or a slight dip is in the offing. So, take these buy ideas but buy them only on significant dips but do not short this market. This market can turn around and go up any time."
On Bank of Baroda and State Bank of India he said, "Bank of Baroda has a chart which has turned around very clearly. From a bearish chart to a consolidation and now to an uptrend. So, Bank of Baroda is a buying opportunity, even a small dip here is justified because this is a high beta stock, you can get gains on the upside. State Bank of India is a buy but you can as well wait it out because it is going to follow the Nifty, so you can wait for a couple of days before actually considering and entering."
On Adani Enterprises he said, "I would not touch it, this is purely news based. I wouldn't buy it."
Speaking about stock ideas Sudarshan Sukhani said, “Larsen & Toubro (L&T) where infrastructure is going to be big and starting from today you go and make a position there. Bajaj Auto and Hero MotoCorp both are now breaking out but I am selecting Bajaj Auto today. ICICI Bank again part of the story of India. Bajaj Finance and IndusInd Bank which is finally bottoming out so that is the way we look at it. Go for the largecaps, go for the big names and buy them.”
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