Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "The sells are there only because there are opportunities on the short side and that is interesting. So, I will start with the sells. One is Indian Oil Corporation (IOC). The charts are saying the same thing that there is probably more pain in the stock on the downside."
"The second is Cummins India. Cummins had a big rally and that rally was really distribution. Apparently smart money was selling. So, it is breaking support levels and lower levels are coming."
"I have three buy ideas and they are all midcaps. It does appear that some selected midcaps, a lot of them hopefully would now again begin a period of outperformance. So, index, when you buy the index, you actually are buying the heavyweights anyway, so, why not go and buy the midcaps separately. UPL is the first buying idea, it is consolidating and willing to breakout on upside," he said.
"Siemens is an excellent buy for positional traders, investors, and swing traders. Long consolidation and is on the verge of a breakout on the upside."
"Sun TV Network keeps on consolidating and going up. So go and buy it."
"Reliance Industries is an investment buying opportunity. It should go much higher than where it is now. Pidilite Industries is now on the verge of making new highs and that is part of the favoured FMCG group. That is a buy for the day."
"Tata Motors is a buying idea. I don’t know about intraday but for a swing trader and since I am expecting the Nifty to go up, it is worth buying into."
"Anything can happen in a bull market, but I would not bet on IDFC. In fact, it is far better to look at HDFC Bank or other private banks. IDFC is not my favoured pick."
Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
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