Buy PFC on dips, says Sudarshan Sukhani of s2analytics.com.
Sukhani told CNBC-TV18, "PFC and REC move almost equally well, both of them are now giving bullish charts that suggests more upside is possible. But for PFC the warning is that it's been through a strong upmove, almost V shaped or rather a vertical rally and that rally cannot be sustained for long. So the entry in PFC should be on intraday dips, intraday consolidations but with that understanding PFC is likely to breakout and move higher."
He further added, " Idea is also a buy. The correction in Idea seems to be over, it's coming out of a small base. The correction is finished and the uptrend is resuming. Idea was never in a bear market anyway, so what we saw the dip, the decline was a correction of that ongoing uptrend. I just want to add that the current chart scenario is almost uniformly bullish not just for Idea, generally for most charts but chart pictures can change in two hours, they can change in two days. So what will happen two days later is difficult to say but as of now most charts are giving fairly decent pictures."
" IVRCL was Rs 200 and it went to Rs 25. It does appear that IVRCL is coming out of a very large base and that's good news because these bases usually gets sustain, it means that maybe it will not go lower now, so it's a buying opportunity."
