Sudarshan Sukhani, s2analytics.com advice positional traders to hold BILT at current levels.
Sukhani told CNBC-TV18, “BILT was in our buy list earlier, about one and a half once ago when it was breaking out and then it did not breakout. It went into a trading range that is what happened to midcap stocks. They don’t follow our commands and yesterday it moved up. It is an excellent stock at current prices for position traders who want to develop a portfolio, just hold it.”
He further added, “We have Maruti Suzuki and Kotak Mahindra Bank , two blue chip companies, both giving signs of some imminent rallies in the intraday basis.”
“Infra stocks do appear to be having some legs. There is a lot of risk in trading these infrastructure stocks, the one you just mentioned. So, once traders understand the risk there is some momentum in GVK Power and Lanco on the long side, both can be traded. My only worry is that people know how to get in and then they don’t know how to get out. Many novice traders they must understand the risks but there is reward here.”