The latest analysis and commentary by stock market guru Sudarshan Sukhani of sudarshansukhani.com on what is moving the markets today. Check out his top stock recommendations.
He spoke at length about Oil and Natural Gas Corporation (ONGC), Maruti Suzuki India, Mahindra and Mahindra (M&M), Hindustan Petroleum Corporation Ltd (HPCL), Reliance Infrastructure, Apollo Tyres, Ceat, Reliance Industries.
"The easiest trades are in the oil marketing companies (OMCs) where we can go short. So, Hindustan Petroleum (HPCL) is a short sell; even Bharat Petroleum (BPCL) would be, but one is good enough. Reliance Infrastructure is a short. If you see the chart, it has gone into a huddle after that steep decline and now even that Rs 135-134 level is on the verge of being broken to the downside. The buying idea start with ONGC where any rally in oil prices should be a little conducive and that is showing on the charts. Two auto companies, Maruti Suzuki and Mahindra and Mahindra (M&M), both are at the lows and building basis. So, perhaps some momentum can come there," he said.
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