Go long on Hindustan Unilever: Sukhani

Sukhani told CNBC-TV18, “I would advice fresh long positions in HUL. If you are a position trader, if you are an investor wait patiently for prices to come down. All stocks will correct and so will HUL and then go long in it and don’t worry about valuations. The charts suggest significant up moves are still ahead. I have given a target of Rs 1000 plus in the next few years and that should come about.”

He further added, “We have been bearish on PSU Banks since last week when all of them started showing cracks and the terrible news whatever it is has come now. So the markets have discounted this information much prior to the results. There is good reason to remain short. I don’t think the bottom targets have been met yet, the final targets. The momentum is so strong on the downside that you cannot step aside and even try to be courageous and buy that would be foolish. So either you are short or you are away.”

"I would not buy Sun TV at the current levels, I have been downbeat on Sun TV when it was Rs 300. I explained it is going through a distribution pattern. This was a surprise, which is a different issue. A lot of these stocks which are falling since two days on back of some news or the other are not to be bought at any price unless they stop falling and they begin a long process of consolidation."