Which stocks are on Sudarshan Sukhani's buy/sell list?

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 IndusInd Bank See messages about IndusInd Bank IndusInd Bank BSE | NSE 24/05/12 Are Mutual Funds betting on IndusInd Bank? Other Stocks in this news Hindustan Unilever | Titan Industries | Hero Motocorp | Raymond | GAIL India |

Sudarshan Sukhani of s2analytics.com says the upward bias in the market will continue today as well. "The trend is up so take advantage of the dips," he says.

He gets stock specific on CNBC-TV18 where he analyses IndusInd Bank , HUL , Hero MotoCorp , Raymond , GAIL  and Titan .

Below is an edited transcript. Watch the accompanying video for more.

Q: Well above the 5,250 mark. Will the upward bias continue?

A: Yes, it will continue but there will be some choppiness that should be expected, it moved up a lot. But the trend is clearly up, so the choppiness is to take advantage of the dips.

Q: You would buy IndusInd Bank?

A: IndusInd Bank has rallied a lot. In that sense it's probably not an investment buy correctly, but momentum was so strong yesterday it touched Rs 290 and it's pushing against that. That brings it to new highs for this uptrend. So IndusInd Bank is a momentum play. Buy it, expect very decent upmoves, keep a tight stop loss and also exit at a profit when you get it.

Q: How does HUL look today?

A: HUL has come down to Rs 373 which was a support level. There were two possibilities there. It could breakdown that makes support breakdown at lower levels or it could bounce back. Yesterday it decided to bounce back. That seems reasonable because the broad market is also upbeat. If it bounces back then the upside target for this is about Rs 420-425. So there is a significant upmove in HUL. HUL is a buy. The bounce back started yesterday. We can expect very good follow through today and it's a position trade also.

Q: The only sell on your list today is Titan?

A: Yes, Titan has been falling for the last three days. Earlier also it made a new high and then closed at its lows. For the last four days it's going against the market. It hasn't outperformed the broad market while as a midcap it should have. Then it does appear that the bear market in Titan may actually be continuing while the Nifty maybe doing something else. So it's not only a hedge independently, it's a short sell on any signs of weakness.

Q: From the auto list you like Hero MotoCorp for the day?

A: Yes, Hero MotoCorp for technical traders has made a bullish head and shoulder pattern and broken down out of that. That gives a target of almost Rs 2,100. It's not surprising. It went up all the way to Rs 2,200 just a few months ago. So Hero MotoCorp is a buy for today, the breakout occurred yesterday. There should be fairly good follow through either today or on Monday. Sometimes there is a day's gap and we don't know when. But more important you buy calls, you buy futures, you buy equity. There are significantly higher targets ahead.

Q: Raymond from the textiles space is also on your buy list?

A: Yes, it is a long buy list. Raymond is bottoming out. The process is it fell from Rs 410, went all the way to Rs 300, in fact sub-Rs 300. That decline was a bear market of some kind and that's over now. So Raymond is in a long-term uptrend. We had a sharp decline. This uptrend is going to continue.

At some point and not immediately, Raymond is likely to cross the Rs 400 highs it made. For now yesterday's momentum was good. It crossed the Rs 350 level. We should expect more upside. Raymond is a position trade as well as a buy on dips on every occasion now.

Q: Finally your list wraps up with GAIL on the long side?

A: GAIL was a very big disappointment. It was again in some kind of a bear market. From Rs 445 it went to Rs 355, that's a 25% decline, not good. That seems to be over. Now the basing patterns in GAIL are not complete. For example, Raymond developed the base for almost two months. GAIL has not done that but yesterday it gave a significant up move.

Since we are in an uptrend, it's possible that the time required to build a base may not be available and GAIL could actually go up in a hurry. But it may not. It's more of a falling knives trade, but if it goes up then it goes up all the way to Rs 445-450 again. So there is a lot of upside possible here. So traders should take this momentum buy and see if this can be converted into a position trade if it continues going up.

Q: Do you expect to see a few days of consolidation or straightway up move to that 5,400 area?

A: No, it's reasonable to expect some consolidation although the market can surprise by simply racing up, but the larger probability is that we will inch upward rather than go and jump to that 5,400 level. That inching is a painful process. The market goes up, then intraday it falls 30 points, people say okay this is a bear market again then by the time it closes or the next day it opens it goes up and it's 20 points higher as we have seen for the last two-three days. The targets are 5,400 and then we will see if it goes beyond. But the process may appear like a consolidation.