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 Maruti Suzuki, Cadila Healthcare, Wockhardt, Century Textile, GAIL, Tech Mahindra, Tata Consultancy Services, Hindustan Unilever, Glenmark, Indiabulls Housing, Sun Pharmaceutical, KPIT Technologies.
Recommending specific stocks ideas, Sukhani said, “Individual stocks will keep on offering opportunities at least intraday. So the three ideas are on the buy side. One is Tata Consultancy Services (TCS). I think IT is now going to start performing and outperforming. So TCS is a buying opportunity for the day. The other is Hindustan Unilever (HUL). Same story, the stock has been outperforming and today perhaps at least for the time being that outperformance should continue. A much more interesting stock idea is Glenmark. Glenmark is now coming out of a small correction, it is already in an uptrend. It is a buy for the day and if you want if you are looking for positional trade, it is also a positional buy.”
Speaking about the individual stock ideas, Sukhani said, “I would be a buyer in Maruti Suzuki even at a lower level. Maruti is just getting into an uptrend. A much easier trade is in pharmaceutical; Cadila Healthcare is a buying opportunity, a double top is in place now and one by one pharmaceutical stocks are coming out of their depression. That correction is probably over. So Cadila is a buy and similarly Wockhardt is a buy. Same story, big dip, large downtrend, that is now consolidating, building a base, and moving up. Finally, Century Textiles among the midcaps. It already had a rally and that rally led to a consolidation and a resumption of that rally. There is money on the upside there.”
“Gas Authority of India (GAIL) surprisingly is making a fairly bearish pattern. Today is not a day to be bearish, but I think GAIL, intraday could still shorted and hopefully it would open higher and that would give us a better price,” he added.
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