Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "The buys are all midcaps and the reason is that while it is easy to decide that the Nifty is hopefully going up, I am finding it difficult to identify the Nifty stocks that could actually lead the way up. So, it is easier to simply buy the Nifty. Midcap stocks are giving very good charts, so this rally probably has more steam ahead."
"Starting with Aditya Birla Nuvo, that small correction in that stock is probably over and maybe even new highs are coming. So, it is not just a swing trade, it is also a positional trade," he said.
"Then we have Tata Power, same story, big rally, small correction, a resumption of that uptrend. Same pattern is visible in Adani Power and in CESC, so there is something going on in power. All charts are good enough, I have just selected Tata Power today."
"Then I have REC, a small sideways move and an imminent breakout from that sideways move."
"The most interesting is Indiabulls Real Estate. There is a bullish head and shoulder a continuation pattern. So that suggests that a much higher level is coming, so lot of midcaps are giving these charts."
"The only short sell I have is UPL, there is something going on, it is very messy chart and probably lower levels are coming. Broadly, we should be on the long side preferably," he added.
Among the tyre stocks the one we have not discussed has the best chart that is MRF. It is on the verge of the significant breakout. It is expensive but it is there.