Buy GE Shipping; Sell Oracle Financial: Sukhani

Sukhani told CNBC-TV18, “ Great Eastern Shipping Company has been holding on to Rs 230-235 and it is not cracking that. This time it’s not the support that is breaking, it’s the support that’s holding and that is good news because it bounced from Rs 235 repeatedly. It did that on Friday, made a decent move on the upside and that is probably the beginning of an upmove. Therefore one should expect follow-through today and then expect a position trade, which should eventually take it to Rs 260 where the first resistance kicks in. That is a lot of money on the upside, almost 7-8%.”

He further added, “ Oracle Financial Services Software is a disappointment. It made a bearish head and shoulder and cracked. It did that on Friday. So it’s not just a one day pattern. It’s a large pattern that’s broken on the downside and it’s confirming it’s made an intermediate top. It is not my worry as to why it is doing so but Oracle is a short sell without any doubt. In fact a nice trade could easily be to go long in TCS and short in Oracle.”