Buy Bata, IGL, M&M Financial; hold Jain Irrigation, sell Rico Auto: Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Most of the stocks are giving opportunities on the long side. So I would suggest being on the buy side today. Bata India is an outperformer and that outperformance continues. Consider buying for the day and even carrying the position."

"Indraprastha Gas (IGL) is a second buying opportunity. It has been an outperformer and that continues till date. So, have the courage to go and buy it even at these elevated levels. There is more upside here."

"Third is M&M Financial Services. This stock turned around, it has been a leader in the NBFCs for the last few months and that continues. So, we are looking at midcaps which are giving us leadership in any case," he said.

"It is not the right time to buy Amara Raja Batteries because the stock has been underperforming. There must be a reason why the market is not buying, we cannot assume that we are the only people who know the secret that this is a level to buy and market does not know it. It does not work that way. If the market is not comfortable in a bull market, in a bull run with this stock, we don’t have to buy it. We don’t have to buy and be brave."

"On the charts, it is on the verge of breaking down from a large support base; that is fairly bearish. So, the answer is, no this is not the right time to buy Amara Raja. The right time always is when a base is built, prices start moving up and in this case it is far away now."

"Jain Irrigation Systems is a hold. Although the prices are at the highs because the stock itself has moved up rapidly and the buying has probably been done at these high levels, but even then it is on the verge of a larger breakout. So it may take time, it may take weeks or months. However, Jain Irrigation is giving the sense that a much bigger move is impending and is upcoming. So, hold it and be patient about it; don’t get nervous by small ups and downs, that always happens, volatility is part of stocks markets – don’t get nervous, hold it."

"I think Rico Auto has run up rapidly. There is no base building here, the breakout has already occurred unlike Jain Irrigation where a breakout is imminent. So, I would suggest a sell, exit the stock, buy only if there is a significant dip or a large consolidation. It is not worth holding at current level," he added.

"I am not upbeat on Tata Motors. We have to see the background and how it has fallen from very high levels to Rs 400 plus. So, these one day moves, two day moves which are likely to continue. Some news comes and the market reacts, and today was a good day anyway for any good news to be accepted, so I am not upbeat on Tata Motors."

"Divis Laboratories is part of the pharmaceutical sector which has not bottomed out. The bear market continues. Let us hope the volatility will end soon, but that has not happened. It is a complete avoid."