Sudarshan Sukhani, s2analytics.com shares his view on Hanung Toys .
Sukhani told CNBC-TV18, "Hanung Toys, we have been buying and trading it in an earlier incarnation when it was Rs 130 to Rs 250. Yes it has spiked up today but I wouldn't go and buy it. It's too early. It was making new lows just two days ago so this spike up needs to be treated with caution. If it crosses Rs 100 or even if it maintains the current levels for a few days, then it becomes a buying opportunity. This is a problem that will be faced in many smallcap and midcap stocks which are being beaten down and could easily go through strong relief rallies. So suggestion generally is don't rush into it. If the rally is genuine, prices will sustain and that's the time to buy."
He further added, "I would suggest it's wise to avoid midcap stocks but in case you still have to buy one then it would be a bank. Maybe Corporation Bank , one of the better PSU Banks."
