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Buy Motherson Sumi, LIC Housing Finance, Bata; sell Tata Power: Sudarshan Sukhani

Sudarshan Sukhani of is of the view that one can buy Motherson Sumi Systems, LIC Housing Finance and Bata India and can sell Tata Power Company.

August 10, 2020 / 06:05 PM IST

Sudarshan Sukhani of told CNBC-TV18, "Motherson Sumi Systems and LIC Housing Finance have similar charts. They have had six-seven day declines and that decline came to an end on Friday when handsome rally took place. So perhaps that dip is over. Both are high quality, strongly up trending stocks. So buy Motherson Sumi and LIC Housing."

"Bata India had a decline many days ago, so it was outperforming in the last three-four days. It is building a small base and willing to come out of it. It is an excellent buying opportunity for day traders, swing traders as well as if one wants to position for a few weeks. It's a buy," he said.

"Adani Ports and Special Economic Zone had a very mild correction, so that correction if the Nifty goes up should end. The sign hasn't come, so we are just assuming that it should end."

"There is a short sell, just to balance out and keep my exuberance to a low and the market is not exuberant anyway. The short sell is Tata Power. It made a new low on Friday when the broad market was more or less okay."