Oct 19, 2016 02:43 PM IST | Source: CNBC-TV18

Buy Voltas, IGL; sell Mahindra & Mahindra: Sudarshan Sukhani

Sudarshan Sukhani of recommends buying Voltas and Indraprastha Gas and advises selling Mahindra & Mahindra.

Sudarshan Sukhani of told CNBC-TV18, "Voltas is a buying opportunity. This stock has been in a consistent uptrend and that uptrend continues today also."

"Indraprastha Gas (IGL) has been an outperformer. There is only one way, it keeps on consolidating and going up. There is an upmove today after a consolidation. That should take it further, enough for a swing trader or a day trader," he said.

"Mahindra & Mahindra (M&M) is a short sell. It has been a clear underperformer in auto pack and against the Nifty. That weakness continues today. So it is a short selling idea."

"I have not been upbeat on ITC. The charts are suggesting that at best it will be an underperformer which means if the Nifty goes up 10 percent, maybe it will go up 5 percent. At worst, it will fall in spite of a rally in the Nifty. So in either case, ITC is not a buying opportunity. Savvy option sellers could sell options and then make premiums but as an investor, don’t touch it."

"ICICI Bank after that big move is going sideways for many days. Once we get a sense that the sideways move is ending, we should go and buy it again. Generally I am upbeat on markets, but this won't be an easy upmove. The easy part was done yesterday, it will be very choppy. So there will be dips and those dips should be used to buy, not today."

"GAIL India has been going up. You look at the charts, for the last seven days, it has been flying. Now it is possible that it can keep on flying like this but for traders, it becomes difficult to enter. The stock is an excellent buy, just wait for a consolidation. Luckily, BHEL has just started its run up yesterday. So there is a buying opportunity today for anyone who is looking at a 3-6 months time horizon. You can very happily buy BHEL and buy GAIL on a consolidation."
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