Buy BEML , says Sudarshan Sukhani of s2analytics.com.
Sukhani told CNBC-TV18, " Grasim came in our buy list just when it was breaking out above Rs 2,450. That was an extraordinary rally in Grasim, just one sided and very quick. It's again come in the buy list. It was in a trading range. It now appears that it's willing to go up. If that is so, the trading range is a bullish flag. That tells us Grasim is moving towards Rs 3,100 or even higher. That's not the target for today, but again this is not just a momentum trade, it's also a position trade. We really need to stay with these positions till the rally lasts."
He further added, "BEML went up. Yesterday it rallied to new highs, so if BEML was in a trading range that breakout has already occurred yesterday. New highs have to be bought into. It's in the right sector, capital goods. Now suddenly that sector has become so glamorous and there is a lot of headroom for BEML. In the earlier bull market it was in the much higher levels. So BEML has now suddenly become a momentum stock. You go and buy it, put a stop loss and the chances are that you will get those 10-15% rallies, if not today in a couple of days."
