Buy Bombay Dyeing , says Sudarshan Sukhani of s2analytics.com.
Sukhani told CNBC-TV18, "Bombay Dyeing is a long idea and that's simply because the stock went through a deep correction and since then started a very significant rally. This is a stock that first went in stages, steps, went up, corrected giving buying opportunities and now says that there is strong momentum driven buying coming in it, making new highs for this leg of the bull market. So Bombay Dyeing is now a buy. Look for a target of Rs 460. As usual keep a stop because the markets may become not only choppy but also a bit risky."
He further added, " ONGC is a remarkable stock because while the broad market suggests that some kind of exhaustion is stepping in, ONGC is actually breaking out of a long trading range on the upside. So a stock as significant as ONGC remains in a trading range and then says I am moving up, we need to take care, we need to notice it and remain long in it."
"It's like Hind Unilever saying I am willing to go above Rs 300. So something is going on in ONGC and something good for the bulls. Not only is it a trade today, I think it is also a wise trade for a position trader. You can buy calls and sit with it."
