Buy Havells India; sell Power Grid, Mindtree: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can buy Havells India and sell Power Grid and Mindtree.
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Oct 19, 2016, 10.04 AM | Source: CNBC-TV18

Buy Havells India; sell Power Grid, Mindtree: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can buy Havells India and sell Power Grid and Mindtree.

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Buy Havells India; sell Power Grid, Mindtree: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can buy Havells India and sell Power Grid and Mindtree.

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Sudarshan Sukhani (more)

Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "On the charts Havells India is a buy. Yesterday, it opened at its lows, closed at its highs, had a small three day correction prior to that but fundamental news can sometimes dominate. So, the buy signal is still there. However, wait patiently till 10:00 AM, if the stock price is at yesterday’s close, then it means that markets have discounted whatever news was there and are willing to still bet on it. So, the only caveat is, wait for sometime otherwise the buy signal remains."

"My sense is that the markets will become choppy. The short sells are Power Grid which is now giving a sign of distribution and could actually go through a deep correction and a favourite stock to short sell is  Mindtree . That is only because midcap IT is still not doing what it should have done. Mindtree goes through a consistent down move. It is in a bear market while Power Grid is now willing to go down," he said.

"There are two buying opportunities, Indiabulls Housing Finance which has done rather well and the sense is that it can breakout. Engineers India (EIL) which is making a bullish head and shoulder pattern. We are buying in anticipation of a break out but what is the harm. The markets are cheerful generally, so these are the buys that are also short sells. I think the markets will be choppy."
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Buy Havells India; sell Power Grid, Mindtree: Sudarshan Sukhani

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