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 Piramal Enterprises Ltd (PEL), Asian Paints, Godrej Consumer Products, Bajaj Finance, Britannia Industries, Tech Mahindra, Ultratech Cement and JSW Steel.
“Piramal Enterprises is a buy. That is a stock that has fallen a lot, built a small base and is now looking to higher levels, breaking out from that base. The second buy I have is Asian Paints. Again another very good quality share that has been a little choppy. It is bouncing from the lows. So at least the momentum trade is available here. Godrej Consumer Products is a short sell. Almost at the lows of many months and breaking those lows. so that is a short here,” he said.
“Bajaj Finance is a buying opportunity. I must point out that the Nifty itself is at a difficult position. Britannia is another fast moving consumer goods (FMCG) which is breaking out from a very attractive bullish patterns promising much higher levels, that is a buy. Tech Mahindra is a buying opportunity. IT is doing well and Tech Mahindra is outperforming there. So the focus is on stocks not on any index views. Two short sell calls – Ultratech Cement, which is already going and breaking support levels consistently. JSW Steel – same story at the lows. So focus on stocks and let the index be,” he added.
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