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 Hindustan Unilever Ltd (HUL), Wipro, Ultratech Cement, Ceat, Shriram Transport Finance, Bata, Larsen and Toubro, Reliance Industries, HDFC Bank, UPL, Aurobindo Pharma, Tata Motors.
Recommending specific stock ideas, Sukhani said, “Just for today, there are stocks which are giving opportunities on the buy side which is a pleasant change from the last two days. HDFC Bank is a buying opportunity. It is outperforming and that is the reason why the Nifty Bank is also outperforming. We have UPL which is a buy and Aurobindo Pharma which is outperforming in the pharmaceutical sector. These are day trades and intraday trades for the long side. However, today there is a mild long bias.”
“Ultratech Cement is a sell. The stock broke down on the back of results and the selling has not stopped or stemmed so that is a short sell. If you see the charts of Ceat, it is like a one-way decline. That decline continues. So Ceat is a second stock, we are already selling in to weakness and that is the way we should buy strong stocks and sell weak stocks. Shriram Transport Finance is another stock that is looking at lower levels. This one is already in a mini bear market of its own. Two buy ideas are the two blue chips that are outperforming those sectors. HUL is a buy for the day and Wipro is a buy. For the day and for the week also, I think fast moving consumer goods (FMCG) and IT should outperform,” he said.
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