Sudarshan Sukhani's top 4 picks for trade today

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Sudarshan Sukhani's top 4 picks for trade today

Sudarshan Sukhani of Technical Trends is bullish on Bajaj Hindusthan, GE Shipping, Reliance Industries and Suzlon Energy. He advises investors to buy into these stocks.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Sudarshan Sukhani See what other Experts & Brokerages are saying about Bajaj Hind See messages about Bajaj Hind Nifty BSE | NSE 29/05/12 Are Mutual Funds betting on Nifty? Other Stocks in this news Great Eastern Shipping Company | Hero Motocorp | Reliance Industries | Suzlon Energy | Hindalco Industries | National Aluminium Company | Dish TV | Zee Entertainment Enterprises | Amar Remedies | HEG | Tata Steel | Jindal Steel & Power |

Sudarshan Sukhani of Technical Trends is bullish on Bajaj Hindusthan , GE Shipping ,  Reliance Industries and Suzlon Energy . He advises investors to buy into these stocks.

Here are the key levels:

Buy Bajaj Hindusthan with a target of Rs 216 per share and stop loss at Rs 205 per share. 

Bajaj Hindusthan is a buy because for sometime now I was getting the impression that the stock could go either ways. It was in a very narrow consolidation. My impression now is that it is inching upwards. Sugar is a very high beta sector.

If at all it is going to go up then they are going to a lot of interesting activities on the long side. So with Rs 216 target would say Bajaj is a buy so is Renuka - something is going on in Renuka also.

Balrampur Chini is underperforming. So I would not say that it is a short sell or you avoid it, maybe it will play catch up. At this point Balrampur is not a buying opportunity even though sugar is promising more interesting times.

Buy GE Shipping with a target of Rs 285 per share and stop loss at 261 per share.

It is difficult to be very enthusiastic about buying anything because I feel that the markets are under pressure. But if you are looking at outperformance, then GE Shipping is likely to outperform the broad market. In days like today, we should look at stocks that have been giving impressions of outperformance because they can bounce faster and at least give you some profits.

In that sense GE Shipping went up and then corrected itself. That correction may well be over. There is a day trade as well as swing trade in that stock on the long side. A modest target is Rs 285, keep a stop loss.

Buy Reliance with a target of Rs 1,040 per share and stop loss at Rs 990 per share.

Reliance is the dark horse of the story. The target is Rs 1,040. If the Nifty is going to rally, the chances are Reliance will outperform at least today because yesterday it closed better. But we are in some kind of a downtrend, so one must keep a stop loss. It is possible that the bounce in Reliance could continue for a day or two.

Buy Suzlon Energy with a target of Rs 87 per share and stop loss at Rs 77 per share

Suzlon has been outperforming the market. We have seen what it did - it made a low of Rs 52 and then bounced up to Rs 85 in just one-and-a-half-months. That shows that probably the worst is over. But we will it out the long-term aspect. It certainly shows that in the short term it has a lot of strength.

Now as the Nifty is making 25 day lows, Suzlon is not doing that. It is still higher than what it was in the lows it may last week. So if at all we want to buy a stock we ought to be looking at Suzlon. It is probably the outperformer in the entire F&O lot.

For the same reason, I have long positions in Suzlon. The target could be Rs 87. If the market even stays steady I think the stock could go up.