Jan 24, 2013, 11.09 AM IST | Source: CNBC-TV18

Go long in ITC, says Sudarshan Sukhani

Go long in ITC, says Sudarshan Sukhani of

Go long in ITC , says Sudarshan Sukhani of

Sukhani told CNBC-TV18, "ITC had a big decline. That decline was going to be a correction and then as ITC usually does it started a V-shaped rally. You cannot catch a V-shaped rally almost immediately but there was a sense that the decline is over and if the markets remain choppy, ITC could easily still outperform and that seems to be happening."

He further added, "Now a minor support level has been broken yesterday, so it is possible that as the other heavyweights keep on moving up or down and that is how the Nifty chops, ITC could steadily move higher. This is something that needs to be taken in context, but look at ITC’s opening, but if at all there would be a long trade in some of the Nifty heavyweights ITC should be probably the first choice."

Set email alert for


video of the day

See choppy mkt till earnings weak, be stock-specific

Explore Moneycontrol

Copyright © Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of is prohibited.