Apr 02, 2012, 12.56 PM IST | Source: CNBC-TV18

Sukhani's view on Kotak Mahindra Bank

Sudarshan Sukhani of s2analytics.com shares his view on Kotak Mahindra Bank.

Sudarshan Sukhani of s2analytics.com shares his view on Kotak Mahindra Bank .

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, thats 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."

Set email alert for

ADS BY GOOGLE

Buy & sell politicians on Power Play
- the political stock exchange

Price Update

Arvind Kejriwal

1716.75 10.45 0.61%

129145

Bought today

86953

Sold today

1.59%

User holding

video of the day

Ambit Cap eyes two years of market cheer; bets on cyclicals

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.