Mar 29, 2012, 05.43 PM | Source: CNBC-TV18

Hero Motocorp may rally to Rs 2200: Sukhani

Hero Motocorp may rally to Rs 2200, says Sudarshan Sukhani,

Hero Motocorp may rally to Rs 2200, says Sudarshan Sukhani,

Sukhani told CNBC-TV18, “ ONGC has been falling and today’s half dying moments rally can easily be ignored. The same applies to BPCL . If you want to look at charts that are really meaningful then we should be looking at Hero Motocorp, which has been consistently rallying for the last six days, is breaking out above some significant resistance and is heading towards Rs 2,200. I have positions in that but my point was that there are good charts also. These half and hour rallies can be ignored.”

He further added, “The sugar stocks have literally fallen off the cliff and the trading here is either you go and short sell them which is not easy because they have fallen so much and there are a lot of trading tactics required for short selling and the other is you simply avoid them. There is no buy on dips strategy here. So that’s how all sugar stocks need to be looked into, not just Renuka. TVS Motor has been a disappointment. You don’t touch it. There are so many other companies. Even Maruti after a big decline will be a much better opportunity to buy into. Just stay away.”

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