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Buy Adani Ports, Jubilant Foodworks, hold Biocon; sell Exide Industries: Sudarshan Sukhani

Sudarshan Sukhani of is of the view that one can buy Adani Ports and Jubilant Foodworks and can hold Biocon while one can sell Exide Industries.

August 28, 2017 / 12:27 PM IST

Sudarshan Sukhani of told CNBC-TV18, "There are a lot of midcap stocks giving us reasonable price action. So, the focus should be in that area rather than the index. Adani Ports is a buying opportunity. It has already been in a strong uptrend and that uptrend persists. So buy Adani Ports for the day and carry the positions if it closes strong."

"The second buying idea is Jubilant Foodworks. For some reason people are eating more pizza, I have no idea, but the stock price is in a very strong momentum up move. So, at that point we want to take advantage of the strong momentum. It is a short term buy unlike Adani Ports, but Jubilant Foods is also a buying opportunity."

"The short sell here is Exide Industries. Exide has given a disappointing performance. It has had a rally and that rally fizzled out. It is now making lower highs, lower lows. So Exide remains a short. Broadly focus on midcaps and largecaps but stay away from the indices."

"Biocon itself has fallen a lot. It is now finding support, I would suggest one should hold on for whatever period of time, and in short term I am assuming months, not days. So if one has few months of time horizon, hold on."

"Reliance Industries has been my favourite stock together with Hindustan Unilever (HUL). Targets are always very difficult because the market does not listen to what we say, the market has its own mind. The trend is much easier to identify, the trend in Reliance is up, it is an outperformer and throughout this bull market which can last for many years, Reliance will remain an outperformer. For whatever it is worth, it could easily cross Rs 2,000 in the next one year," he added.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd
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