More upside seen in Hindalco , says Sudarshan Sukhani, s2analytics.com.
Sukhani told CNBC-TV18, "Hindalco has done the right things. It has broken out yesterday and given a follow through today so that follow through is important. Break-outs can take place when the Nifty goes up but Hindalco has said okay I am willing to go higher. So today's follow through tell us that there is even more upside left. Rs 135 at the very minimum as a basic target and if the momentum continues then this can over shoot on the upside."
He further added, "The charts of TCS are quite different from what I would have imagined them to be. TCS is now breaking down from a trading range. It is very surprising even to happen as a nifty breaks out and goes above 4800, here is TCS which is doing the exact opposite. It is a little confusing to me but in any case if we look at TCS in isolation it is selling idea but in a market that is inching upward there is no reason to go and sell TCS. The chart itself suggest selling so do not buy it now."
