Buy HDFC Bank , SBI and HCL Tech at current levels, says Sudarshan Sukhani, s2analytics.com.
Sukhani told CNBC-TV18, "HDFC Bank has been an outperformer. In any case I am very wary of selling HDFC and HDFC Bank. I prefer not to short them because the slightest whenever the index needs to be pulled up, these are the two stocks that are favorites for index management on the upside. So if the market is to go up today or tomorrow, HDFC Bank I assume would be leading that rally. So apart from the Nifty itself which of course we will discuss but HDFC Bank - the charts say it's outperforming the banks and surprisingly outperforming the Nifty. So because we are in a mildly bullish environment HDFC Bank is an ideal stock to buy today."
He further added, "The market has some mildly bullish momentum. State Bank of India (SBI) is a buy. In fact if the market decides to go up today's statement could easily be a major participant. So State Bank, we could look at a target of Rs 1740 or so. The important thing is to keep tight stops because if this is not going up, we don't want to remain in the trade. DCB went up with a gap yesterday so look for a target of Rs 36 and go long."
" Hero MotoCorp charts are now in a correction so we want to sell it and certainly not want to buy it now. HCL Tech is a buy. Yesterday it went to new highs, higher levels, retreated but I think that momentum should continue on the upside."
