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Last Updated : May 03, 2017 10:57 AM IST | Source: CNBC-TV18

Buy Kotak Bank, Bajaj Auto, GSPL, Sharda Cropchem; sell SAIL: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can buy Kotak Mahindra Bank, Bajaj Auto, Gujarat State Petronet and Sharda Cropchem and can sell SAIL.

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Kotak Mahindra Bank has already broken out of three week consolidation; it is now making new highs. I would be a willing buyer. Most of the banks are avoid but Kotak Mahindra is an exception. So this is a buying opportunity, not just for short-term trade but an investment idea as well."

"In Bajaj Auto, a large bullish pattern is now coming to a conclusion and it is breaking on the upside, a day trade also a positional trade, one can look at it as an investment idea for a few weeks to months," he said.

"I have two midcaps. One is Gujarat State Petronet. The stock has a strong rally on the back of Petronet LNG, probably the same business. However, there was a sharp decline and that decline has come to an end and we can expect resumption of that rally. So GSPL is a buying opportunity. It is in the cash segment but no harm. The important part is where the money is. The money is in the cash segment. Sharda Cropchem is another buying opportunity. Nice rally, consolidation and imminent breakout."

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"The one short sell is Steel Authority of India. It has a horrible chart; double top, bearish head and shoulder. It is probably looking much lower."

"Oil and Natural Gas Corporation (ONGC) and IRB Infrastructure Developers are buying opportunities early morning.

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First Published on May 3, 2017 09:21 am
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