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 Godrej Consumer Products, BEML, Apollo Tyres, Interglobe Aviation, Tata Steel, IRB Infrastructure, Jubilant Foodworks.
Recommending more specific stocks ideas, Sukhani said, “Tata Steel is a short sell with Rs 484 as a stop and Rs 472 as a target. Similarly, IRB Infrastructure is a short sell. If you see the charts of IRB, see how the stock has fallen and there is no respite. Jubilant Foodworks is the only buying suggestion I am giving. It is outperforming for whatever it is worth, so consider buying Jubilant Foodworks. On a choppy day like this anything can happen.”
Speaking about the individual stock ideas, Sukhani said, “Godrej Consumer Products is a short sell. Look at the chart, consumer companies are going up, Dabur, Hindustan Unilever (HUL) outperforming, this one is falling day after day relentlessly. That is a short. BEML is a short. BEML has a relatively better chart but a sharp decline tells us that if this is a correction also, there is more downside left. Apollo Tyres – this terrible chart, Ceat, Apollo Tyres, both of them, they are now at their lows. Something is going on there in tyre companies which we do not understand, but we should be shorting them.”
“Tech Mahindra is a buy. At least it is an intraday buy. Interglobe Aviation is a buy. Every dip in Interglobe Aviation should be bought into,” he added.
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