Sudarshan Sukhani of s2analytics.com is of the view that one can buy Hexaware Tech, NTPC and Bata India and can sell LIC Housing Finance and Canara Bank.
Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "There are some stray midcaps stocks that are buying into for short term trades. It starts with Hexaware Tech. Midcap IT continues to go up. I don’t know how NASDAQ's big rally yesterday will affect them positively or not but at least our own charts they are a buy. So, Hexaware is a buy."
"NTPC independently is a buy irrespective of the choppiness in the Nifty because power stocks and NTPC specifically are giving signs of life now."
"Bata India is my favourite, a small decline is coming to an end there and a renewed rally. Some of these stocks will not be affected by whatever the broad market does. So three buying ideas - NTPC, Hexaware and Bata India."
"Two easy shorts sells - LIC Housing Finance - they are all breaking down and significantly lower levels may be coming. My favourite is Canara Bank today, every day I get a PSU bank and you could close your eyes and sell any except for State Bank of India," he said.
"So two short sells and three buys and a confusing scenario."
"Intraday trades on the long sides are possible, intraday trades are also possible on stocks. It is quite likely that today could be an intraday long opportunity. That is possible and that is how we should be positioned," he added.Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd