The latest analysis and commentary by stock market guru Sudarshan Sukhani on what is moving the markets today. Check out his top stock recommendations.
He spoke at length about UPL, Hero Motocorp, Bharat Forge, Reliance Capital, Dewan Housing Finance Corporation (DHFL), Larsen and Toubro (L&T), Hindalco, Vedanta, NIIT Technologies, Tech Mahindra, Ajanta Pharma, Vedanta, Zee Entertainment, Ujjivan, Central Bank of India, Yes Bank, PC Jewellers.
Recommending specific stocks ideas, Sukhani said, “Among the midcaps, the pharmaceutical sector seems to be cheerful. So my suggestion today is to buy Ajanta Pharma. Focus on pharmaceutical and IT for whatever buying opportunities you want to take. Apart from Ajanta Pharma, I have two short sells also, one is Vedanta and the other is Zee Entertainment. Both are intraday shorts, but metals are in a downbeat scenario. So I would expect lower levels to come.”
"There are two buying opportunities; you buy them on a dip, UPL and Hero MotoCorp. Essentially both these trades are positional trades; you can carry them and you should. Intraday or for a couple of days, nothing on the long side may make money, but they are worth buying into if you are taking a position. The short sells are easier. Bharat Forge is a short sell, the stock has already been hammered, and thanks to the US markets, I think there is significantly lower levels coming here. Reliance Capital is a short sell and so is DHFL. I have been downbeat on NBFCs and more or less it is coming and it is playing in that way. So both the NBFCs are looking at lower levels, " he said.
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