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Jan 10, 2018 11:03 AM IST | Source: CNBC-TV18

Buy Reliance Industries, Torrent Power, Strides Shasun; sell Union Bank of India: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can buy Reliance Industries, Torrent Power and Strides Shasun and can sell Union Bank of India.

CNBC TV18 @moneycontrolcom

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Reliance Industries broke out yesterday. I think there will be follow through on the upside, it may even be little mild, doesn’t matter. Reliance is a buying opportunity."

"Torrent Power has already been on a roll. Lot of power stocks have been going up. It was in a consolidation for two months. It is now breaking out of that consolidation promising higher levels."

"I also have a buy on dips opportunity in Strides Shasun, after that big decline it is consolidating, building a base and now almost ready to breakout of that base. That is an investing idea, a short term investing idea also."

"Pidilite Industries has been in a rally, a consolidation and a resumption of that rally. This is the pattern we see in all good quality stocks, rallies consolidations and resumption of rallies. So this is not surprising that this is happening all across. That means this bull market so far is not disturbed."

"Just to balance it out, my favourite sector Union Bank of India from the PSU banks is a short sell."

"Quick Heal, a move yesterday and move for the last two months - this is a new high, it is a new listed company. It is very difficult to give a technical call here, so I would just say that if you have it ride the momentum," he added.

"We should avoid Idea Cellular. In Jubilant Life Sciences and Prestige Estates, we are going to look for today’s trading on the long side."

"A stock like GVK Power which had a large base and broke out two-three days ago is interesting. I would avoid Punj Lloyd completely."

"Glenmark Pharma is added to the list of buying, I think it is not a very good day to go long for some of the midcaps, just be cautious."

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd
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