Mar 26, 2012, 11.14 AM | Source: CNBC-TV18
Buy Bata India, says Sudarshan Sukhani of s2analytics.com.
Sudarshan Sukhani (more)
Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical
Sukhani told CNBC-TV18, "Bata India was on my buy list earlier also, it keeps on coming. These stars donít stop. So we cannot say Bata has come to Rs 700, it cannot go higher, as we know it is now nearing Rs 800 and Rs 800 plus is also my target."
He further added, "I think Bata sooner or later will cross Rs 1000 number. It is an excellent chart, it has been rallying but the key here is to keep on finding locations to buy it and I assume today is a good day to go into Bata. The problem is if the Nifty suddenly collapses then most stocks would go with it but Bata will still be an out performer. The chances are it will do much better in spite of a decline."
He further added, " Godrej has come earlier in my buy list, once it crossed Rs 200 it started making those lifetime new highs and it keeps on doing that. FMCG is a favourite, at least itís a defensive and Godrej is a favourite stock in that sector because itís making correct pattern for higher levels, those life time highs. That itself gives us message that something good is going on here. So Godrej is likely to be an out performer."
"For somebody who is looking to go long, Bata and Godrej are ideal stocks. There is not rush in the sense you donít have to go long in them everyday but whenever the opportunity arises these two stocks should be in focus."