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 ICICI Bank, Adani Port, Havells, Ramco Cement, Ceat, Reliance Industries, Jet Airways, Yes Bank, Axis Bank, LIC Housing, Mindtree, HDFC Bank, Speciality Restaurants, Maruti Suzuki.
Recommending more specific stocks ideas, Sukhani said, “Axis Bank is a buying opportunity. In the early morning show, I talked about how ICICI Bank is looking interesting and suggesting a buy. So just think both these two private sector banks are giving us opportunities to go long, just now I am talking about Axis. So consider buying Axis Bank. Consider buying LIC Housing. LIC Housing had a nice rally and then it consolidated and is now breaking out of that consolidation. That is a good chart sign. IT is a buy. So how Tata Consultancy Services (TCS) is rallying today; Infosys did that earlier. Midcap IT after small corrections recovers. So Mindtree is a buying opportunity. Stay on the long side of the market, do not take shorts.”
Speaking about the individual stock ideas, Sukhani said, “ICICI Bank, excellent chart and suggesting much higher levels ahead. It is not only for today, it is also a positional trade and that gives a sense that perhaps the markets will and at least the Nifty Bank is willing to go higher and take the rest of the market with it.”
“The other buying ideas are Adani Ports. Yesterday Adani Port had a handsome gain day, a big rally while the market was in a huddle and that tells us a breakout is imminent on the upside. Havells where a small consolidation continues and that consolidation given the mildly bullish nature of this market, should break on the upside. It has not broken, we are buying in anticipation. Ramco Cement where a very attractive bullish head and shoulder is building at the base. That is a positional trade and a day trade for today. It is also a message for cement stocks, most cement stocks are giving a sense of bottoming out,” he added.
Ceat is a short sell said Sukhani. “It is a bearish chart and looking at lower levels,” he added.
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