Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "What happens is a lot of midcap stocks are giving large range bars. They are going much higher, or vice-versa. That is not a good situation for any kind of trend. Nice trends require small movements, gap ups or gap downs and then intraday choppiness. However, they simply keep on going up or keep on going down. That is not happening. So the sense is that the market is going to be choppy and chaotic for some time; that is the broader sense."
"I am looking to go short on Aurobindo Pharma. A rally in Aurobindo Pharma is probably over. It is a short sell."
"Another short sell is Godfrey Phillips. It is in the F&O segment and is giving the same pattern - a rally, the rally stopped and with large range bars and the prices are now drifting down. Generally the markets are not good for trading when these large range bars start appearing here and there."
"BPCL is a buying opportunity. It is easy, you can actually take a swing trade or even a positional trade in the stock. There is much higher levels in both the oil marketing companies BPCL and HPCL, both of them," he said.
"Hindalco Industries is a buy. It is a short term buy because metals may well be facing a final resistance but it is there. So you can consider buying it for a smaller period of time."
"Hexaware Technologies which has now started a very handsome rally is a buy because the trend is continuing on the upside. Generally there is a sense of confusion," he added.
"Two stocks are on the buy side, one is ITC. If the Nifty goes up, the chances are that ITC would outperform and contribute. So, we can simply buy ITC in the morning."
"The other is Dewan Housing Finance (DHFL) where an uptrend is already on-going and today should see cheerful prices."
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