Buy Reliance Industries on dips: Sukhani

Sukhani told CNBC-TV18, "I think Reliance Industries is going to go through a period of protracted consolidation. This was remarkable; the rally we saw and it actually pushed the Nifty up. But Reliance doesn’t have the momentum; the charts do not suggest that it can reach Rs 850 so soon. So the chances are that we will see Reliance move between Rs 750 and Rs 800. A dip towards Rs 750 would be a buying opportunity. But it’s unlikely to do what it did three days ago."

He further added, " Bharti Airtel at Rs 320 was worth buying stock and it should be bought at Rs 255. But that’s not the way the market works. Now Bharti has to stop falling, start consolidating, till then it does not make sense. It doesn’t make sense to go short in it also although it could go lower but I wouldn’t buy it."