Sudarshan Sukhani's top picks for trade today

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Sudarshan Sukhani's top picks for trade today

Technical analyst, Sudarshan Sukhani of Technical Trends advises traders to buy into 3i Infotech, TV Today, Reliance Industries and Sun Pharma. However, he has a sell call on Maruti.

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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 3i Infotech See messages about 3i Infotech Nifty BSE | NSE 29/05/12 Are Mutual Funds betting on Nifty? Other Stocks in this news TV Today Network | Reliance Industries | Sun Pharmaceutical Industries | Maruti Industrial Carbohydrates Ltd | Infosys |

Technical analyst, Sudarshan Sukhani of Technical Trends advises traders to buy into 3i Infotech , TV Today , Reliance Industries and Sun Pharma . However, he has a sell call on Maruti .

Here are the key levels:

Buy 3i Infotech with a target of Rs 82 per share and stop loss at Rs 76 per share.

It's corrected decently. It's building a base and you want to buy it as a day trader also as a position or as investor.

Buy TV Today with a target of Rs 124 per share and stop loss at Rs 114 per share.

TV Today was in a very narrow range and it's broken out yesterday. I think media stocks are now on some kind of a minor momentum upswing and that's applying to all media stocks. TV Today might outperform. It's worth looking into-I do not know day trade because sometimes stocks perform tomorrow rather than today but traders might like to enter this stock.

Buy Reliance Industries with a target of Rs 1,160 per share and stop loss at Rs 1,120 per share.

This stock is in a 200 point range for the last 12-months. Assuming that the Nifty is going to go up, Reliance is going to go up and outperform. It is worth entering the stock while it's on the verge of a breakout maybe. In any case the risks are low.

Sell Maruti with a target of Rs 1,320 per share and stop loss at Rs 1,385 per share.

I would short sell Maruti for two reasons. First we don't know what the final outcome of today's news report will be, assuming the market decides to go down, autos are likely to go down first.

Second, Maruti's charts are not good at all. It is consistently under performing and weakening. So Maruti remains a short sell for me. I can see much lower targets if the market consolidates or starts falling.

Buy Sun Pharma with a target of Rs 1,850 per share and stop loss at Rs 1,780 per share.

Just a few days ago it was at life-time highs. These stocks will correct and we are seeing very minor corrections. Yesterday, after a minor correction, it is reasonable to assume that the stock will resume its upmove today.

For a day trader, it is an excellent stock to watch. See a sign of strength then go and buy it. For position traders also you can except a rally from current levels.