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 Colgate Palmolive (India), Tata Elxsi, Coal India, Sun Pharmaceutical Industries, Marico, ICICI Bank, JSW Steel and Bharat Forge.
“Colgate is a buying opportunity. Colgate, Dabur, Marico all the fast moving consumer goods (FMCG) stocks are doing well so consider buying Colgate. Similarly, consider buying Tata Elxsi. Midcap and IT is again an outperformer. So we are focusing on sectors which are outperforming today and for the next few days. Colgate, Tata Elxsi are buys and Coal India is a short sell. That short sell is only intraday,” he said.
“The list starts with ICICI Bank which is a buying opportunity. The stock is making a perfect bullish head and shoulder. It is a classic text book example. I hope it works out but I would follow it. So that is how the day starts. Consider buying ICICI Bank for the day for a positional trade and that is the reason why the Nifty Bank is probably doing much better than the others. Sun Pharma is a buy, I have explained earlier how it is building a base, slowly inching up and that is exactly what is happening. Sun Pharma is a positional trade, a day trade both. Other long side trade is Marico, which comes in my list after a long time, Marico is now coming out of a small correction and FMCG should do well. Two intraday short sell calls - JSW Steel, which is a star of erstwhile years is now falling and breaking support levels consistently, that is a short for the day and Bharat Forge, same reason, breaking support levels but focus on the long side, don’t get worried about the volatility, that is existing,” he added.
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