Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "The bias should be towards buying and because there are a lot of midcaps and largecaps which do suggest that momentum remains on the upside, it only the indices which are not tradeable because of the gaps."
"Bata India is a buy. It is a favourite stock. It is now stalling and going into a consolidation and had a narrow range day. We presume that the consolidation will break on the upside."
"Tech Mahindra is an investment idea. The stock has been bottoming out for almost four to five months now. It is just on the verge of a break from that large base it has building. So apart from being a short term trade, if somebody is looking at an investing idea, it qualifies as that also."
"I have my favourite ACC inspite of the fact that it is coming out of the Nifty and everything else. ACC is doing very well, it is a short term momentum buy. The three buying ideas and the focus should be on going long in stocks because there even a 1 percent gap can easily be built into and show more strength," he said.
"There are two short sells, Bank of India part of the PSU banks. PSU banks will go down, even if they don’t go down today, but I would rather be a short seller there."
"Pharmaceutical’s decline in bear market is not complete yet. There are strain now examples of rallies and sustaining say basis, but Torrent Pharma is one of the weaker ones. It is a short sell," he added.
"Larsen and Toubro (L&T) as a short term trade is a buying opportunity. The two stocks that have come today are Asian Paints where some positional swing trade is possible, not a day trade just and Bharti Airtel which is now coming out of a brief correction. Both are swing trading ideas."
"A day trade is possible in Petronet LNG on the long side. All three ideas is for buying. I don’t think we should be selling, but nothing on the index."
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