Sterlite Industries looks good, says Sukhani

Sterlite Industries is looking good at current levels, says Sudarshan Sukhani, s2analytics.com.

Sukhani told CNBC-TV18, “I would avoid Tata Motors, but maybe get ready to buy it at some point. The Nifty itself is now very close to our 5350 threshold, who knows where it will close. It could close higher also or touch it. So there is a slight undercurrent in the market which is bullish. The trend behind us was also bullish.”
He further added, “Tata Motors is not a short sell. We wait patiently. Let the decline stem as I explained as it has happened with State Bank today and then we will consider buying it, but not now.”
“Sterlite Industries has come out with some good chart patterns. It’s gone through very deep corrections, a bear market. There are signs of life in it. The fact that the Nifty itself is giving at least some signs that okay, maybe the consolidation is over tells us that we should be looking at the strongest stocks in the group which is Sterlite.”