Sukhani told CNBC-TV18, "Lupin is a buy mainly because it has gone through a deep correction. I am looking at Rs 465 but that's only the initial target. It's also possible that the stock may actually begin a new rally from here. It has been in a small trading range doing all the right things, actually rising in this falling market and having completed that dip that we all talk about, buying on dips and that dip is over for Lupin - and then it's in the right sector. So that Rs 469 is an initial target. If the momentum is on the upside it could outperform significantly."
He further added, " PFC is a falling knife today. I call them falling knives because I m buying them in anticipation that the stock will stop falling. Sometimes it doesn't. In a declining market there are inherent risks but PFC and REC have both fallen significantly and are probably right for some kind of a relief rally. Sometimes stocks will go through a rally even when the broad market is coming down so the trader doesn't have to go and buy it right at 9:15. Wait patiently for 10:00-10:30 for the markets to stabilize. If you see any signs of stability then PFC becomes a buy and you would actually be entering almost at the lows."
