Buy Colgate, Dr Reddy’s Labs, Glenmark, Grasim Industries; sell Pidilite: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "The focus is on the midcaps because the Index could remain in a hurdle and if it does go up. We are already there in the Nifty and the Bank Nifty.

"Colgate Palmolive had a mini bear market, big decline in terms of what it usually does. That declines seems to be stopping at a support level. I am a willing buyer in Colgate and if the trade is working I would actually carry it. If this is support then significantly higher levels could be coming."

"I have been explaining how pharma is bottoming out. That process takes a lot of time. But for the short term Dr Reddy’s Laboratories and Glenmark Pharma are giving attractive buying ideas. Dr Reddy’s is also already rallying while Glenmark was in a range after that big decline for two months and it may be coming out. So we are buying at the lows if we are rightly in Glenmark," he said.

"Grasim Industries is alive and kicking and existing and a very attractive pattern suggests that a significant breakout maybe imminent. So, we are buying in anticipation."

"There is a short sell in Pidilite Industries, it has a fairly bearish chart and a short which should be only intraday," he added.

"Surprisingly, the two high flyers are both weak and I actually suggesting short opportunities, L&T Finance Holdings and Mahindra & Mahindra Financial Services. These have jumped, they have rallied and have gone up 200 percent and they are the weakest of all the links."

"There are two buying ideas that are coming up. One is NHPC, it is a Rs 28 stock and is giving a very attractive breakout. That is a buy, it is not day trade, but you can hold it and there is money probably on the upside."

"Second is Hindustan Zinc - that old favourite. Metals are doing well and it is probably even a day trade and a carry forward trade both for buying."