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Jul 24, 2012, 10.59 AM IST
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Zee Entertainment.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Zee Entertainment .
Sukhani told CNBC-TV18, "There is some sense that the current rally is going through a correction and more declines are in the offing. So Jaiprakash Associates on the charts is a short sell. But this is only likely to be a correction rather than a downtrend and corrections are not easy to trade in any case. So if somebody wants to take a call, you have to go and sell it or you can simply step aside and wait for this correction to end."
He further added, "Weakness is coming in two different ways, one is if the markets come down, these are going to underperform, they will fall much faster. If the Nifty were to be stable or actually go up then stocks like Hindalco and Tata Steel will move up much less that by itself is relative weakness."
"Zee Entertainment Enterprises is making new highs for this uptrend. Anything that makes new highs needs to be bought. So it is a buying opportunity and I think it is going to do very well in the next 5-7 days."
Tags: Zee Entertainment, Sudarshan Sukhani of s2analytics.com , Jaiprakash Associates, Hindalco, Tata Steel
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