Buy Bata India, BHEL, Reliance Industries; sell M&M: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Bata India has been a favourite and it continues to do well. It pauses, it consolidates and breaks out. Consider buying Bata India for the day. BHEL which is now coming out of that long bear market is suggesting that it is just building a base and willing to go much higher for a short-term trade, intraday or swing trade. BHEL is also a buying opportunity. There is also a short sell because this market is in a consolidation. So we will have buys and sells. Buy should be more but Mahindra & Mahindra is a short sell. This stock is not doing anything. Intraday trade, you could consider going short in M&M. I have to repeat this, short sells should only be taken intraday, do not carry them forward, we are in a strong up-trending market, gaps will be in favour of bulls and against bears."

"Technology companies – I would not trade in front of news because first of all, the CNX-IT index which deflects the large cap technology companies is quite weak. It has already broken down from a support level. They are holding on for the day but I have no call at all to make on them. Let the results come out and let the market respond. That is the time when a new trade will come. At this point they are weak and suggesting weakness is persisting," he said.

"Reliance Industries is a different story altogether. With a disclosure that I own shares in Reliance, that tells you what my outlook is. It is not a day trade, it has run up so much, it can correct and pause and consolidate and the trend would still be up but as an investor if you do not have Reliance, you must have it in your portfolio. To my mind, it will be a big outperformer," he added.

Disclosure: Reliance Industries owns Network 18 that publishes Moneycontrol.com.