Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Reliance Industries is not in my list but the reason is that Reliance should be in everyone's list as a buy idea. If one does not own Reliance, one should. However, now as we speak, after that small correction Reliance has turned up and it is giving a sense that it is going towards Rs 1600. So in any case and even a short-term trader think of Reliance as a buy idea now."
"Asian Paints is a buying opportunity. It is a favourite stock of mine. A small correction is probably over; fast moving consumer goods (FMCG) should outperform and would be the reason why the Nifty goes up, if it does, FMCG and Reliance," he said.
"I am not very sure about the banks. The banks could go up, they may do minor contribution, I do not know. Apart from Asian Paints we have DLF. DLF had a nice corrections, small, mild and then a flat trading range and it is now breaking out of that range. So there is something going on in DLF which is worth buying."
"Autos is an outperformer. Hero Moto has done well and it is now on the verge of breaking after a small correction. There are a lot of good quality stocks that have corrected together with the Nifty and are now giving a sense of breaking out. So if at all a Nifty trade is taken, as I suggested, it should be only on the long side for me," he added.
"There are two short ideas - Arvind, which is going through some distribution. These are short selling ideas, try to keep them intraday and GAIL India; it is relatively weak but short selling should be done only intraday."
"It is possible that Lupin is turning around but yesterday was the first day that it saw a rally after months of decline. So I would rather wait. Pharmaceutical is bottoming out, it is difficult to say one day is enough but it is worth watching. I wouldn't buy it now."
"I do not have much conviction in ITC. I think it will go sideways. It will go up on one day and go down. There was a big rally. It could require weeks to consolidate and get out of that consolidation. Jet Airways is also a buying opportunity for the day."
"Like most other NBFCs there seems to be more run up possible in Shriram Transport Finance Corporation."
Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd
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