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Buy Tech Mahindra, Motherson Sumi, UltraTech Cement; hold Jet Airways: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can buy Tech Mahindra, Motherson Sumi Systems and UltraTech Cement and can hold Jet Airways.

October 09, 2017 / 02:15 PM IST

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Tech Mahindra is a buy. Actually all IT stocks are now buying opportunities including Infosys. We had HCL Technologies in the morning after the market opened, Tech Mahindra is also in the same league. Buying is possible here and I think we could also carry positions."

"The second buy is Motherson Sumi Systems. This is the stock that keeps relentlessly going up, pauses, consolidates, and continues its up move. So Motherson Sumi is a buy as it breaks out of a consolidation pattern."

"We have all heard how the numbers for some of the auto companies were very good and that is reflecting in the momentum in share prices. So even now it is a buying opportunity. Do not go short in this market," he said.

"One can certainly buy UltraTech Cement. The stock has been consolidating for some time and it probably promises much higher levels in the next three years. We are just in the beginning of a long terms bull market, so, UltraTech Cement is one of the better stocks; go ahead and buy it."

"Unfortunately, I cannot say the same about Can Fin Homes. This is a stock that has run up far more than what we could have imagined. This is not the place you want to buy it. You want it to pause for a year, two years, have deep corrections. So Can Fin Homes is not a buying opportunity, but UltraTech is."

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"Jet Airways is now at Rs 485-490, so, the time to exit has already gone. At current level, Jet Airways is trending at a reasonably strong support base, so, now you have to hold on. In a bull market it is generally worthwhile holding on to shares. So hold on for one year," he added.
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