SENSEX NIFTY
Sep 28, 2012, 12.21 PM IST | Source: CNBC-TV18

Buy Hindustan Unilever: Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can buy Hindustan Unilever (HUL). It had a small correction for the last three-four days and that correction is over. Any rally in the Nifty will see a major contribution by this one.

Sudarshan Sukhani of s2analytics.com is of the view that one can buy Hindustan Unilever (HUL).

Sukhani told CNBC-TV18, "Hindustan Unilever is not defensive with due respect, it has gone up from Rs 300 to Rs 550, how many stocks have done that? So I think of it as a momentum stock in all fairness. It has done very well. It is continuing to do well.”

He further added, "Hindustan Unilever has been a favourite since Rs 300, I think it will eventually lead four figures, obviously that is going to take time. It had a small correction for the last three-four days. That correction is over and any rally in the Nifty will see a major contribution by this one. So on both accounts correction is over, Nifty may rally, Hindustan Unilever is a buy."

"The bank Nifty has retreated much less than the Nifty. If the Nifty is to go up and let us forget about the Nifty going up, the State Bank of India (SBI) has consolidated for the last four days mimicking the Nifty itself and mimicking the bank Nifty that consolidation is going to end either on the upside or on the downside."

"SBI chart do not suggest the significant downside, we are anticipating a breakout on the upside. So if that happens, another 100-150 points is there. We are in an up trending market, short positions will be taken with caution and long positions can be taken much more easily."

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