Maruti Suzuki has support at Rs 1270-1275: Sukhani

Sukhani told CNBC-TV18, "If the market gets choppy sometime during the day then I need to have some stocks where I can go long. Maruti Suzuki has support at Rs 1,270-1,275 and has held very well."

He further added, "This is not a trade that starts in the morning or even goes with the trend. But if the market decides to take a turn for the better then Maruti would be my first preference today. It’s the rally we saw on Monday was more or less held yesterday, it did not break down completely. The Rs 1,270 support continues to hold. So, Maruti is a buying opportunity given right market conditions."

"Everyone was running after each other to buy HOEC when it was Rs 200 because one thought it will go out of the market. Now at Rs 111 there is nothing in it. This stock has made a bearish head and shoulder, it has broken down on it and the immediate targets are Rs 100 but they are sub Rs 100 eventually for the pattern that I am talking about maybe Rs 85 or so. This tells that concept stocks need to be handled very carefully and for analysts it becomes difficult but this is what happens, much lower levels are coming."

Disclosure: I do not have holdings in the above stocks.