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Last Updated : Jan 17, 2018 12:25 PM IST | Source: CNBC-TV18

Buy Axis Bank, Dr Reddy's Labs, TCS, Wockhardt; exit MMTC: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can buy Axis Bank, Dr Reddy's Labs, TCS and Wockhardt and can exit MMTC.

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Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "This is a buyers’ market still and we have Axis Bank because the Nifty Bank could rally intraday. So Axis Bank is also a buying opportunity independently of the Bank Nifty. That is a buy, there is a sense of momentum and in ICICI Bank as well, consider buying Axis Bank."

"Consider buying Dr Reddy's Labs. The stock has been an outperformer yesterday and today and that outperformance should continue."

"We have Tata Consultancy Services (TCS) from the IT pack, another sector which is outperforming. So broadly the theme is be in stock specific trades and just consider the Nifty Bank," he said.

"Any rally in the PSU banks is a shorting opportunity because the banks are not telling us that the trend is changing. This probably only an intraday or relief rally for whatever time it lasts and to that extent a position trader looking to go short can select PSU banks, you get that much higher prices."

"Wockhardt is a good buying opportunity. The stock has gone through a severe bear market, but that is behind it. It has already started a run up and that run up can continue for many more months, more than a year. So, you will expect some dips in between but that is normal. So, Wockhardt is a buying opportunity and it is an outperformer in the pharmaceutical sector. So I would go for it."

"There is no longer term view on MMTC. This stock has gone up and down on rumours so many times in the past many years, it is not once, but it has done that many times. I would say sell out. There are so many opportunities, private sector banks, IT, pharmaceutical, go in for names that you understand," he added.
First Published on Jan 17, 2018 12:14 pm
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