Buy Reliance Capital: Sukhani

Sukhani told CNBC-TV18, “ Manappuram Finance was a buy last week when it was lower and I own shares in that. But I think there is more upside here, a target of Rs 28 to Rs 30 is what I am assuming should come about. Even Reliance Capital is now suggesting that the dip below Rs 200 was at least some kind of a low that it’s putting in place. So I would be a buyer in Reliance Capital although ADAG stocks are not my favourite. But now it seems that at least Reliance Capital is doing the right things to move up."

He further added, “I wouldn’t buy TV Today . Most media stocks have made new lows in this decline and that is not a sign of strength. These knee jerk reactions come on the back of news and we know that. That happened earlier with Network 18 and TV18 Broadcast  also but that was not sustained. These stocks have to build long bases. Once they come out of these bases there would be screaming buying opportunities and that’s still happening."