Buy Idea Cellular, says Sudarshan Sukhani

One can buy Idea Cellular, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Idea Cellular is a less sharp knife. It came to Rs 106 and that is a correction; Rs 106 was earlier support and it is holding on to that. It is an outperformer. It is certainly better than banks, better than so many other stocks.”
He further added, “When compared with the Nifty, it is doing much better. It is falling, everything is falling. Therefore, at Rs 106 with strong support coming and the possibility of another double bottom here also at a much higher level. I would be sanguine buying Idea today for a couple of days and even for day trade.”
At 09:46 hrs Idea Cellular was quoting at Rs 107.50, down Rs 1.20, or 1.10%. It has touched an intraday high of Rs 108.50 and an intraday low of Rs 106.45.
The share touched its 52-week high Rs 124.00 and 52-week low Rs 71.20 on 16 January, 2013 and 24 April, 2012, respectively. Currently, it is trading 13.31% below its 52-week high and 50.98% above its 52-week low. Market capitalisation stands at Rs 35,620.18 crore.