Sukhani upbeat on SKS Microfinance

Sukhani told CNBC-TV18, "I have been downbeat on SKS Microfinance since Rs 1300, when it started listing. Now it seems that SKS has done all the right things, build a base, broken out, so the rally from 5,200 which is 100% is probably just the beginning of a very decent upmove. I am upbeat on SKS Microfinance; yesterday’s gains should be built upon. In a choppy market there will be winners and this one seems to be on the right track."

He further added, " Apollo Tyre is giving a sense that it’s confirming a double bottom but the problem with Apollo Tyre will be that there is so much resistance at higher levels, somewhere just below Rs 100 that we are only looking at a trading rally here and not a sustained uptrend. But for traders that is good enough. Yesterday’s gains should be built upon, there should be follow-through. It is not easy to say if the follow-through will come today or Monday but it should come. So there is money on the upside in Apollo but only limited so we should trade with targets. We get ex-amount and we should get out."

Disclosure: I have no personal holding in the above stocks.