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 Tata Steel, Tata Motors, Balkrishna Industries, UPL, Divis Laboratories, Tata Steel, Sun Pharmaceutical, UPL, Jubilant Foodworks, JSW Steel.
Recommending specific stocks ideas, Sukhani said, “UPL is outperforming. It was in my list in the morning also and I think that continues. I would say go and buy UPL. Second is Jubilant Foodworks. I guess people need those fast foods even more when there is slight disturbance and turbulence. So Jubilant Food is a buying opportunity. All metals are short sells, so for now JSW Steel is a short sell, but you could sell Vedanta, Hindalco, Tata Steel, anything.”
Speaking about the individual stock ideas, Sukhani said, “Tata Steel is a short sell. Metals are now going into a bear market, these are not buy on dips opportunity; Hindalco, Tata Steel look like as if some major declines are coming. So Tata Steel is a short for the day, even on a gap down, on small intraday rally you can go and sell it. I have been hearing how Tata Motors bottomed out at Rs 500, Rs 400, Rs 300, Rs 200, I suspect that story will continue when it goes into double digits. It is a short sell. Balkrishna Industries has been underperforming all other similar companies, Ceat or Apollo Tyres or others; that is a short.”
“If the market stabilizes, UPL is a buy. The stock is outperforming. Pharmaceutical will outperform despite Sun Pharmaceutical. So, Divis Laboratories is a buy. There is no rush, maybe by mid-afternoon you will get these buys,” he added.
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