Buy Bank of Baroda: Sukhani

Sukhani told CNBC-TV18, "All said and done banks as well as Nifty is in a trading range so the trades that we are discussing should not be taken as beginning of a new bull market. It’s not that. I just want to give that caveat. But within the circumstances banks appear to be ready for some small upmove and Bank of Baroda has been one of the earlier outperformers and yesterday’s price action suggests there is more upside here. So I would be a buyer in Bank of Baroda."

He further added, "There is more downside in HUL and now there is a theme building up that all the expensive fast moving consumer goods (FMCG) and pharmaceutical stocks are beginning to show distribution pattern. It’s not just HUL. Hindustan Unilever’s downside is there towards Rs 400 or even Rs 395 and that can happen even if the Nifty goes up today."