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 Aurobindo Pharma, United Breweries (UBL), Apollo Tyres, Indiabulls Housing Finance, Canara Bank, ITC, Reliance Industries, Divis Laboratories, Wipro, Mahindra and Mahindra, Sun Pharmaceutical, Bharat Forge.
Recommending specific stock ideas, Sukhani said, “There are some selected buying opportunities. So Divis Laboratories is a buy. Some stocks in the pharmaceutical sector keep on coming up, keep on giving some gains. There is a buzz, a very minor buzz, but it is still there; a positive buzz. So Divis Laboratories is a buying opportunity for the day. So is Wipro. As you can note, the sectors are also defensive. IT, pharmaceutical, FMCG, we should focus our buying if at all here only. So Wipro and Divis are for buying. Mahindra and Mahindra (M&M) is a short sell. It is actually a positional short, it is also a day trading, intraday short. It is looking at lower levels there.”
"There are two buying ideas; Aurobindo Pharma and UBL both are having independently bullish charts which is why we are selecting them. Most midcaps are in the sell zone. Apollo Tyres is a short sell and this is together with Ceat. Even Ceat is a declining chart. The same story comes to Apollo Tyres. Indiabulls Housing Finance, yesterday there was an early morning movement and then it does not work out. Indiabulls Housing Finance is looking at significantly lower levels. It is likely to underperform other non-banking financial companies (NBFCs), other housing finance companies and that is saying a lot because most housing finance companies should come down. Canara Bank is a short sell. That applies to the public sector undertaking (PSU) banking universe mostly; unfortunately including State Bank of India (SBI). This is not a good market," he said.
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