Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Adani Ports and Special Economic Zone after a reasonable and small correction has gone into tight and narrow consolidation. A breakout seems to be imminent here it. So hold it and so far you are not stopped out stay with it. Carry the position if necessary."
"Big decline in oil marketing companies lead to a consolidation and a very strong rally. So that rally continues. We had a big day yesterday and chances are that new highs will be made here. So, Hindustan Petroleum Corporation (HPCL) is a buying opportunity."
"I am amazed how NMDC reflects iron ore prices. When iron ore prices were falling down, NMDC was going through a minor bear market and now it is rallying day after day. Look at iron ore and trade NMDC. Sometimes I do that and it is very interesting either ways. So these are three buying ideas for different reasons," he said.
"Two short sells - PVR is in a bear market of its own and Ajanta Pharma. I can pick up a pharma company everyday and say go short and it falls down and the whole sector is still in doldrums. So two sells but focus on the buys."
"Lupin is part of a group which is not giving us a sense of direction. The whole pharma sector is in a bear market. Lupin is nothing. It is just one or two days of small rallies and we start thinking that it will change. It's not changing. See the charts and see from where it has come to that lower point. It is in a bear market and should be avoided completely," he added.
"Bharti Airtel is a positional buy. I would avoid others. PI Industries which has gone through a deep correction is giving a sense of a new rally coming up. It is not a day trade but it is worth buying into."
"I do not think traders should enter Future Consumer now. Wait for consolidation and that will come about. Ashok Leyland has broken out of a large congestion pattern, it hit lifetime new highs. The problem with these stocks is can you buy it as a trade - that becomes difficult. As an investing idea it is excellent."
"I would buy Indraprastha Gas (IGL) irrespective of the price. The other one is Petronet LNG where a trading call is justified. It broke out two days ago, had a mild dip yesterday and then could go long. Tata Global Beverage has been an old stock for years. It has broken out but I do not know how much more it has. So IGL is a better option."
"GAIL India has a lot of overhead resistance and between the three, IGL and Petronet LNG are much better opportunities. Adani Power has a wonderful chart. It is building a base and a bullish head and shoulder is breaking out. It is a positional buy but it is going to go much higher. It is worth buying into."
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