Buy Aditya Birla Nuvo, says Sukhani

Buy Aditya Birla Nuvo, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Opto Circuit India was always in my short list and as it fell I was comfortable selling it being on the short side. Now there is a sense that it’s bottoming out. It had a rally and that rally led to a correction. That was the first warning that the stock is probably bottoming out when it refused to make new lows. It is moving up again now. I am assuming that the rally will resume. The correction is over and it is a low risk trade. There are tight stops and if it works out these high beta names can do well on the upside."

He further added, "Aditya Birla Nuvo is a very disappointing name in the market. I have been upbeat on AB Nuvo and it has done nothing. I think for years it moved in Rs 700-800-900 range. Now after a correction it has started a rally again and if not anything it should reach Rs 900 where it faces resistance. So there is a basing pattern, there is a correction, lows have been maintained and new lows have not been made. I think there is a buying opportunity here."