HOEC can move to Rs 130-140: Sukhani

Sukhani told CNBC-TV18, " PTC India has moved up from Rs 36 to Rs 66. So while the markets were doing nothing, there was something going on in this stock and even at current levels the buying is justified although I am a little afraid of buying after 80% gains on a stock that is little unusual for a laid back stock. But if somebody is understanding what the company is doing, why it is going up and why it should then the charts justify more upside."

He further added, "HOEC is in a very visible downtrend. It has fallen almost 60-70 points but these sharp downtrends eventually see relief rallies. I think that the relief rally of some kind has started in HOEC and that rally can take it much higher if not anything at least Rs 130 maybe even Rs 140. So for the short-term trader because it is a very high beta stock, quite volatile, it is worthwhile taking a long trade with the understanding that we are simply trying to catch a relief rally not an eventual upmove but it is worthwhile."