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Buy ACC, IndusInd Bank, Just Dial, Hold JP Associates; Sell BHEL: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can buy ACC, IndusInd Bank and Just Dial and can hold Jaiprakash Associates while one can sell BHEL.

Oct 10, 2017 / 12:47 PM IST

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "ACC is a buy and so is IndusInd Bank. The chart patterns are very attractive. A breakout seems to be on the verge which could lead to strong momentum and higher prices. ACC is recovering from a sharp correction, and a V-shaped rally is coming in ACC. Both are essentially buying opportunities, not only for the day, but for a longer term."

"The third is Just Dial. The stock has never been a favourite for me, but it is making very attractive bullish pattern. So it is a short term trade for a few days, but it is worth taking on the long side. Remember, don’t stay there for long but take the trade and exit when you can. All trades are for buying; this is not a market where you want to go and short," he said.

"I think one should hold Jaiprakash Associates. The chart pattern suggests that there is momentum on the upside and the stock has been gaining ground. So it is a low cost, more or less a penny stock, but even on penny stocks the percentage gains can be very impressive. The momentum seems to be intact, but there is a warning that this is also a news driven stock. There is a large amount of risk, but with that risk understood, one can hold," he said.

"One should sell BHEL. It has been a clear and distinct underperformer. So, our job is not to push up stock prices of underperforming stocks, we are retail investors. Focus on FMCG stocks, focus on private banks, focus on NBFCs, there are so many opportunities – just sell and forget about it," he added.
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