HDFC, HUL top picks: Sukhani

HDFC and HUL are top picks, says Sudarshan Sukhani, s2analytics.com.
 
Sukhani told CNBC-TV18, “A lot of frontliners are now giving us confirmed bullish patterns. One of the first ones is HDFC. We should remember that HDFC is also the foreign institutional investors (FIIs) favorite. If the index goes up, HDFC goes up first. HDFC has given us a bullish head and shoulder, it has confirmed that pattern, I would expect it to move quite significantly higher. Next week should be an opportunity to go long in HDFC, buy on Monday after the first one hour or two hours or even half an hour elapses, buy on a correction throughout the week but stay with HDFC.”
 
He further added, “Hindustan Unilever Ltd (HUL) chart is almost as good as that of HDFC. It has not yet broken out of a bullish neckline for the head and shoulder but beyond that it has done all the right things. So HUL is a buying opportunity. Just ignore the fundamentals at this point of time. Technically it is poised for a very decent rally and these are index heavyweights.”