Sudarshan Sukhani's top 5 picks for today's trade

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Sudarshan Sukhani's top 5 picks for today's trade

Sudarshan Sukhani of Technical Trends is bullish on Indiabulls Reality, Tata Steel, Wire and Wireless India Limited (WWIL), Indo Tech Transformers and MindTree. He advises investors to buy these stocks.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS Buy Wockhardt, says Sudarshan Sukhani Sudarshan Sukhani's top 5 picks for trade today ALSO READ See previous views by Sudarshan Sukhani See what other Experts & Brokerages are saying about Indiabulls Real See messages about Indiabulls Real Indiabulls Real BSE | NSE 29/05/12 Are Mutual Funds betting on Indiabulls Real? Other Stocks in this news Tata Steel | Wire and Wireless (India) | Indo Tech Transformers | MindTree | Sasken Communication Technologies | Sonata Software | Firstsource Solutions | Development Credit Bank | ABG Shipyard | Ashok Leyland | TVS Motor Company | Reliance Industries | Oil and Natural Gas Corporation | Cairn India | Petronet LNG Ltd | PTC India |

Sudarshan Sukhani of Technical Trends is bullish on Indiabulls Reality , Tata Steel , Wire and Wireless India Limited (WWIL), Indo Tech Transformers and MindTree . He advises investors to buy these stocks.

Here are the key levels to watch out for:

Buy Indiabulls Realty with a target of Rs 232 per share and stop loss at Rs 218 per share.

After a long period of depressing values real estate stocks like DLF, Unitech, Indiabulls Real Estate are waking up. So there is a sense that momentum rally is coming. It has already started. Of the lot currently, Indiabulls Real Estate appears to be the most interesting, I don't know if you want to invest in any real estate stock but if you are a trader you want to look at this sector and Indiabulls Real Estate is probably the most appropriate for a buying opportunity.

This is my pick for the day, it has rallied a lot. Yesterday it went a made something called the Doji that tells us that a new rally is coming. Buy the stock with a target of Rs 232 and stop loss at Rs 218.

Buy Tata Steel with a target of Rs 650 per share and stop loss at Rs 625 per share.

Yesterday Tata Steel opened in the morning with all the panic that the commodity markets are frozen on down circuits in China, so it opened Rs 10 lower at Rs 616. That was the low of the day and that is an environment when we were saying its catastrophe all around. From Rs 616 it rallied and closed Rs 23 higher. Tata Steel is a stock you cannot put down. For a short term trader you buy it on a dip, intra-day dip you will make Rs 2-3-4 on that stock, that should be the approach consistently. I think that will work today also.

Buy WWIL with a target of Rs 26 per share and stop loss at Rs 20 per share.

This is an interesting pick because WWIL has just yesterday. It made two months high on a closing basis that is what attracts us to the charts. There is a disclosure that I own shares in it. After making those deep depressing values of Rs 6-7, it's now in a trading range looking to break out.

For an investor or a trader the breakout tells us there is momentum building up, the share price tells us that the value is not important. The risk is very low as compared to the rewards. If the company were to actually turnaround, the share price could be flying. I think it's a very interesting buying opportunity for traders certainly and for investors to allocate 0.5%-1% of their portfolio.

Buy Indo Tech Transformers with a target of Rs 385 per share and stop loss at Rs 335 per share.

Yes it's a buy and the disclosure is I own shares in it. This is a stock that has rallies a lot. It is now in some kid of a minor corrective phase. The idea is it's a dark horse. It could work out very well, if it does we make some money, if it doesn't then the traders should be careful, I think the stop loss is Rs 335. So you follow that stop loss, if it moves for you, it's a very good choice.

Buy MindTree with a target of Rs 740 per share and stop loss at Rs 670 per share.

The stock has rallied a lot and after that rally, it's been sleeping for the last seven days. We assume that the rally will continue more so because we have seen the result season actually giving positive surprises all around. MindTree announces results on January 21. One has to buy it before that because you don't buy it after the results if there is a positive pleasant surprise.

So the flag formation in MindTree tells us this is probably the most appropriate time to enter the stock. I don't know about investing but certainly a momentum rally can be taken into.