Go long in Coal India, says Sukhani

Go long in Coal India, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Coal India consolidated while the Nifty was falling 180 points and yesterday it broke out above the highs, which were matching 5,350. So Coal India is at new highs for this uptrend. Any stock that is making new highs must be treated with respect especially when it's a blue chip like Coal India. One must go long in it. It is giving a target of Rs 400 for positional traders."He further added, "Hindustan Unilever is a different story. It is not making new highs. It corrected 5-6% on the downside. It is in a trading range and it is breaking out of that trading range. It needs to go to 20 points higher before it makes those new highs but given the fact that HUL has been an outperformer generally I am assuming that it will catch-up, first it will reach Rs 465 and then cross it. So there is a lot of traction on the upside if the Nifty is to go up. These stocks are going to be more rewarding than the Nifty itself." Disclosure: I have no holdings in the above stocks.