Sukhani told CNBC-TV18, "Punj Lloyd is building a base and it's going up. Most infra stocks are going up. Some of them have run up so much that they are not anymore a buy. You have to avoid them or even go and short-sell. That's not the case with Punj Lloyd. It's just beginning its up move. I think there is a lot of steam ahead before it faces overhead resistance, so Punj Lloyd is now a buy."
He further added, " Larsen & Toubro (L&T) is dipped below Rs 1,000 and almost immediate rally from those levels tells us that that level is now acting as significant support. L&T and BHEL are some kind of twins now, both are moving up."
"Capital goods as a broad sector has been now doing well and there is some more upside left. What it's doing is after a big move up it consolidated for a couple of days and it has broken out of that consolidation. That tells us that probably another 100 points in L&T are easy to achieve. So we have a target of Rs 1,270-1,300 and that would represent a 30% gain from the lows. So the capital goods is doing something remarkable."
