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 Sun Pharmaceuticals Industries, ICICI Bank, Britannia Industries, Interglobe Aviation (IndiGo) and Indiabulls Housing Finance.
“It is a fairly aggressive list mainly buying ideas because the point remains that we are opening at the lower end of a trading range and that is a place where we would look to buy. So starting with Sun Pharma, which is a positional buy - a very attractive four months trading range in Sun Pharma is on the verge of breaking on the upside. You can buy it for today, you can buy it as a positional trade also. The same story comes to ICICI Bank, not the attractive trading range, but ICICI Bank has been outperforming. A small consolidation is breaking on the upside, it is also finding support every time it comes down. That is applying to the Nifty Bank also. Britannia is a buy. It has been outperforming most of the fast moving consumer goods (FMCG) stocks and that should continue. My favourite stock for the recent weeks, IndiGo is another buying opportunity. I have just one short sell, Indiabulls Housing Finance – take it easy on the short side but if the markets do find resistance, the sector could be the first one to start going down,” he said.
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