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Last Updated : May 11, 2017 01:45 PM IST | Source: CNBC-TV18

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

Sudarshan Sukhani of s2analytics.com is of the view that one can buy Aditya Birla Nuvo, BEML and Cholamandalam Investment while one can avoid Bharat Financial.

Sudarshan Sukhani of s2analytics.com 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."
First Published on May 11, 2017 01:27 pm
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