Hero Motocorp may rally to Rs 2200, says Sudarshan Sukhani of s2analytics.com.
Sukhani told CNBC-TV18, "Hero Motocorp is the best looking chart. Yesterday it inched up from a resistance level. Today, we have seen follow through that follow through tells us that yesterday's upmove was not a flash in the pan and it's confirmed. So the targets for this move should be somewhere around Rs 2200. It's a positional trade rather than a day trade. Day traders can enter and exit that's a different issue, but somebody who holds on can probably get a lot of rewards. In individual stocks Hero Motocorp is still a buying opportunity. The momentum we saw yesterday is likely to continue. In fact I would suggest that even Tata Motors will see better levels tomorrow and day after, so even that is a buy.
He further added, "I would not buy infra stocks at all. We must understand that stocks that have consolidated like the Nifty has done and are now breaking out are ideal candidates for taking long positions. Lanco or even some of the other infrastructure stocks like NCC, GVK they have literally been rallying nonstop after a brief correction. This could be the last of their upmoves. I would not touch them."
