Buy Reliance Industries, ICICI Bank: Sukhani

Sukhani told CNBC-TV18, “Reliance Industries move is remarkable, that Rs 750 was a strong barrier for this stock and we have not seen that cross decisively. It always would be acting as resistance. When Reliance goes to Rs 750, sell options or sell the futures expecting a dip.”

He further added, “Once this significant barrier is crossed and again in this case decisively, atleast we know that Reliance has gone into a different orbit. The trend is not only up, Reliance now becomes a buy, if it dips towards Rs 750, whatever the dip maybe.”

“I would pick ICICI Bank without any doubt. That is a number one bank we would be looking at. I have been talking about how private banks will outperform and the larger banks will do very well. Today the bank Nifty is underperforming relatively because if the Nifty is to go up, the bank Nifty has to do much better. If that is so then we should focus on the top quality private banks. Axis Bank , ICICI Bank and HDFC we should not forget that. These are the three banks we should be looking to buy.”