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 Dabur, HCL Technologies, Pidilite Industries, Tata Steel, Bajaj Auto, Zee Entertainment, Maruti Suzuki, Larsen and Toubro (L&T), Tata Consultancy Services, Vedanta, Bharat Forge, V-Mart Retail.
Recommending more specific stocks ideas, Sukhani said, “Tata Consultancy Services (TCS) is a buying opportunity. The stock is rallying even on a day like this; even on Friday it rallied. So luckily for us we have outperforming stocks. Consider buying TCS.”
“Metals are something I have been bearish on for some time and that theme continues. So for today, Vedanta is a short sell and so is Bharat Forge. Bharat Forge was the star of yesteryear's and see how it is falling consistently day after day,” he added.
Speaking about the individual stock ideas, Sukhani said, “Dabur is a buying opportunity for the day. We could have some kind of a relief rally today, not a rally really, but some kind of a momentum on the upside just for the day. So Dabur is a buy. HCL Technologies is a buying opportunity. It is a far better stock. IT should relatively outperform. Pidilite where some sense of small rally is imminent is a buying opportunity. So there are three intraday buys.”
“Shorts are trades which you can carry forward. Tata Steel is a short. How that stock is breaking down, so much good news and it comes down and unfortunately Bajaj Auto is a short. That is a pattern that has already broken down,” he added.
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