Apr 02, 2012, 12.56 PM | Source: CNBC-TV18
Sudarshan Sukhani of s2analytics.com shares his view on Kotak Mahindra Bank.
Sudarshan Sukhani (more)
Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical
Sukhani told CNBC-TV18, " Ranbaxy should stall, build 1-3 hour consolidation and then if it breaks out it's still a buying opportunity. So I would not buy it at the open, I would let the market say okay I am taking rest even thought it's a brief rest."
He further added, "Overall Kotak Mahindra Bank has been dismal because it's been underperforming the banks. The big gains on Friday tell us that it's made some kind of a trading range on the downside of its charts on the lower end, that’s not good but since the broad market itself, the banks have done well for the last two days, Kotak is a buying opportunity. There is always a possibility that it will break out of its resistance levels, give some gains. The gains in Kotak are likely to be very limited. So traders should put a target, they should not expect much bigger moves."
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