Moneycontrol
you are here: HomeNewsBusiness
Mar 16, 2017 04:38 PM IST | Source: CNBC-TV18

Buy Colgate Palmolive, Mindtree, Adani Ports; sell United Spirits: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can buy Colgate Palmolive, Mindtree and Adani Ports and sell United Spirits.

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Colgate Palmolive has been in a rally and in a strong up trend after that big break out in FMCG stocks. That is likely to continue, if not anything, at least it is an intraday buy." 

"Mindtree again is one of the outperformers in the recent IT pack. It is a buying opportunity, these are both short-term buying ideas because if the market is going through a consolidation, most stocks also stop moving around. However, at least for today they seem to be good enough," he said. 

"Third is a short sell, United Spirits which is also a short-term sell but there is a chance that it is probably drifting lower in the next few days. So, markets are likely to come to a standstill for the next few days, I think." 

"If you are an investor, or even if you are a position trader, at current level, Adani Ports is a buying opportunity. Don’t worry about the elevated levels; once momentum starts building up, prices usually go up, especially after lifetime 52-week highs. However, for a trader, today there is no opportunity; that has gone already." 

"On the charts all metal stocks, whether steel or non-ferrous metals, are looking dull and giving us a sense of distribution. It is quite possible that I may be reading the charts wrongly or the charts can morph and change to something else, but as of now, I am not bullish."

Sections
Follow us on
Available On