 Nifty is in a bull mkt, must cross 6300: Sudarshan SukhaniPublished on Fri, Feb 10, 2012 at 08:30 | Source : CNBC-TV18 Updated at Fri, Feb 10, 2012 at 11:11 19048 Investors following Kotak Mahindra. Share this News with them.
The Indian market has been strong since the beginning of 2012. Sudarshan Sukhani, s2analytics.com is bullish on the market. "The Nifty is in a bull market and should cross 6,300," he adds. According to him, the market is giving clear sign that the uptrend is very strong. He advises investors to stay long. Also read: Stocks will outperform gold and bonds, says Warren Buffett Below is the edited transcript of his interview with CNBC-TV18's Udayan Mukherjee and Mitali Mukherjee. Also watch the accompanying videos. Q: What is your call on the market now? A: The market is making everyone bullish. The fact is that the Nifty is giving us clear and visible signals that we are in a strong uptrend. I would probably classify this as a bull market now. What does a good bull market do? It consolidates, it doesn't even correct. See after a big rally, we consolidated in a 100-point range and finally decided to move up. Now, this leg of the upmove will not replicate the earlier one. The market is inching upwards, whether it is Greece or IIP numbers. So, the trade is very clear. Stay on the long side of the market. Don't go short. Why should anyone want to go short? Buy excellent blue-chips as an investment, trade. This bull market should cross 6,300 and do wonderful things. Q: How would you approach Kotak Mahindra Bank ? A: I would buy it. Kotak Mahindra is a buying opportunity. Financials are likely to outperform. Now, the ones that did not join the party, the private sector banks, will join it. So, ignore small blips. Keep on the right side which is the long side of the market. Kotak should do eventually very well. Q: Talking about a few midcaps now. HDIL has done quite well over the last couple of days. How do you look at that chart? A: The charts are excellent. HDIL, after the big declines, the tremendous bear market actually started building a base at low levels. These are reversal patterns that have significant long-term implications. So, we don't ignore them. It's not just that there is a pattern target and HDIL has reached it. It's not that. It's the fact that the reversal will take it to much different levels. The stock remains an upbeat item. It should be in your buy list. I would say that even as for today and for the next few days there is momentum in HDIL which should see higher prices. Now, it is well traded. You can use options or you can use futures, but it's worth buying even now. Ofcourse a position trade in HDIL is there. Q: What about Adani Power ? A: It's been in a very poor shape. It's not a problem. The charts were never upbeat on it. It never did participate or never indicated a rally. I don't think we should actually go and short anything because in a rising market shorting is a silly idea. But don't buy it. That itself prevents a lot of catastrophes. Q: From the same sector Tata Power . A: It's much better stock. That probably reflects the pedigree of these two different stocks. Tata Power is the best in the power sector now, far better than Rpower or even Reliance Infra . Although I prefer the IT and financial services, but if somebody does want to trade the power sector, Tata Power is the most suitable and appropriate instrument. Disclosure: I have no personal holding in any of the stocks discussed.
PREVIOUS STORY Trending NewsBusiness News
|
News MS Sahoo Says On CNBC-TV18 New Guidelines Are An Improvement Over The Old Ones  The latest earning numbers FIRST on CNBC-TV18
Videos
May 29 2012, 12:19 Expect Tata Motors Q4 PAT at Rs 4200 cr: StanChart - in Brokerage Results Estimates Interviews
 May 29 2012, 22:37 | Source: CNBC-TV18  May 29 2012, 17:34 | Source: CNBC-TV18  Subscribe to Moneycontrol Newsletters |
||||||
