Sudarshan Sukhani of s2analytics.com is of the view that one can sell PNB and HPCL and can buy Hexaware, Infosys, Jubilant Foodworks and Sun Pharma.
Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Punjab National Bank is a short sell, I don’t even have to explain why it is a short sell. Actually I could have five PSU banks but I thought that would be too much."
"Hindustan Petroleum Corporation (HPCL) is a short sell, yesterday BPCL was a short sell in my list. Hind Petro is now come to the same support zone which BPCL had already anticipated and broken from. So, oil marketing companies are telling us something is not going well for them. That is a short."
"I have three long ideas because I think the choppy market doesn’t reward anyone almost. Hexaware Technologies it is a strong stock, small correction, some value is available probably for the momentum trader," he said.
"Jubilant Foodworks has the same story, mild correction could lead to at least some intraday gains if possibly and Sun Pharmaceutical Industries where a similar correction is taking place after a big rally. So, in a choppy market focus on good quality stocks for going long and avoid midcaps generally."
"Infosys was a buy earlier and yesterday also I suggested we should be long in it. After this big move even now it is an investment opportunity. I don’t know about the short-term trade anymore because it could consolidate, but if you are looking to invest don’t worry about these levels, go and invest. The stock is telling us something very interesting is happening there and pretty bullish."
"ICICI Bank has broken out after a long time, with a disclosure that I have investments in the shares there. I am not very upbeat on the stock," he added.
"Infosys is a buying opportunity for the investors and a must have in your portfolio. For today there are two buying ideas which now come into the fro. One is Colgate Palmolive, Hindustan Unilever is given its result but I think Colgate is a buying opportunity.""Piramal Enterprises is consolidating and probably willing to go higher. I am avoiding the Indices."