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Buy Adani Ports, Vedanta; sell Fortis Healthcare, Amara Raja, Castrol: Sudarshan Sukhani

According to Sudarshan Sukhani of s2analytics.com, one can buy Adani Ports and Special Economic Zone and Vedanta and sell Fortis Healthcare, Amara Raja Batteries and Castrol India.

August 29, 2017 / 10:40 IST

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Adani Ports and Special Economic Zone is a buying opportunity. It's a stock that was ignored yesterday because of Adani Enterprises but it has a much better chart for a long trade."

"The second trade is Vedanta. Metals is the only sector that is seeing a sustained upmove, almost all other sectors are in a correction of some kind or the other, so we ride that sector boom and go with Vedanta. These are two buying ideas for the day."

"There are three short sells - Fortis Healthcare which is doing nothing, making lower highs, lower lows. The intraday rallies are being sold into. It's an easy sell. Amara Raja Batteries has a similar pattern, so on a weak day weak stocks become much lower. So that is the logic behind these two," he said.

"Castrol India seems to be distributing and getting ready for a much bigger down move. The view today is that do not buy the dips," he added.

first published: Aug 29, 2017 10:38 am

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