Apr 27, 2012, 07.28 PM | Source: CNBC-TV18
Sudarshan Sukhani, s2analytics.com advice investors to buy ICICI Bank for long term and for traders to accumulate Suzlon Energy.
Sudarshan Sukhani (more)
Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical
Sukhani told CNBC-TV, “ICICI Bank chart is telling us that the stock is worth buying if you are a long term investor and it’s not a short sell. It is probably one of the few banks that need not and should not be considered for short selling. Apart from that I don’t see any short term buying indicators here.”
He further added, “One can't sell Suzlon Energy, it’s too low now. There is significant support at the Rs 17-18 levels so it’s not enough decline possible to sell it now. The right approach is to wait patiently, let it go and test Rs 18-18.5 and then it becomes a buying opportunity. I am fairly upbeat on Suzlon and these sharp dips are actually ways in which an investor can accumulate the stock.”