Buy Hanung Toys for long term, says Sukhani

Sukhani told CNBC-TV18, “Hanung Toys has been my favorite stock in the last rally when midcaps were roaring. I remember buying it at Rs 128 and seeing at Rs 300 and then eventually it went to Rs 400 so there is a time to buy midcaps. This is not a good time. Hanung Toys is showing the first sign that maybe the worst is over with it. There is no rush, it fell 5% after rallying 5%, its doing well but there is an opportunity and this is an opportunity for people who are looking for the next two years, not for the next two weeks.”

He further added, “In REC , there is no investment opportunity because these stocks are falling and they have started falling from 400 went through what now appears to have been a bear market rally and have begun new leg of decline. So it’s wise to stay away till REC, PFC these stocks bottom out. We don’t know when that will happen but for short-term trader there is a trade, I call it the falling knife trade; here is the stock that’s fallen so much and has stopped falling for the last two days maybe there is a relief rally in the offing. So here it is possible for a short-term trader to go and buy it.”