Moneycontrol PRO
you are here: HomeNewsBusiness

Buy AB Nuvo, BEML, Cholamandalam Investment; avoid Bharat Financial: Sukhani

Sudarshan Sukhani of is of the view that one can buy Aditya Birla Nuvo, BEML and Cholamandalam Investment while one can avoid Bharat Financial.

May 11, 2017 / 01:45 PM IST

Sudarshan Sukhani of told CNBC-TV18, "There are so many midcaps where fresh buy signals are coming. So, all the ideas today are for going long."

"Aditya Birla Nuvo is again breaking out. The stock has had a stupendous run but it does not stop. So, for a short-term trader, it is wise to buy strength and that is a buying opportunity."

"BEML is part of the capital goods group which is now coming out of a small consolidation and suggesting that higher levels are coming. Luckily it has not had a very large run up which means that there is still potential for it to move up," he said.

"The third buy idea is Cholamandalam Investment. Cholamandalam has now come in the F&O segment. Again the same pattern, a consolidation, a breakout and assumption that the breakout will continue."

"Bharat Financial has been very volatile. I am not very upbeat now on microfinance companies. The charts suggest that there is no bullish pattern apart from intraday ups and downs. I would avoid it," he added.

"After a big run, stocks will consolidate. If you are looking for an investing idea, Larsen and Toubro (L&T) is a good idea to be invested in. I would not trade it now."