Buy United Breweries, Pidilite Industries, Britannia; sell Idea Cellular, ONGC: Sudarshan Sukhani
Sudarshan Sukhani of s2analytics.com suggests buying United Breweries, Pidilite Industries and Britannia Industries and advises selling Idea Cellular and ONGC.
March 20, 2017 / 11:39 IST
Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "The three buys are all from the consumer space in different forms. So, United Breweries is where a decline seems to be coming to an end. This is not a swing trade, it is a positional buy. You hold on to United Breweries and wait patiently till either it stops you out or takes you up and then the targets that I have given could easily be crossed on the upside. It is worth taking that trade.""The other two buys are Pidilite Industries and Britannia Industries. Both have seen an attractive momentum. They are good charts, they are also part of that FMCG consumer products group which I find interesting even in these choppy environments. So, there are three buying opportunities," he added."The short sell is Idea Cellular. Now it is very risky, short sells according to me should be taken only for intraday, don’t carry your shorts. This is a bull market. One day of gap-up can kill us, so Idea is a short sell and so in ONGC. It has a messy chart, I don’t know, may be it can breakout but at least intraday it is worth going short in."
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