Buy BPCL, sell Raymond: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can buy BPCL and sell Raymond.

Sukhani told CNBC-TV18, "BPCL is a better stock and it does not require Nifty context to buy it. It's making bullish head and shoulder and now breaking out of it. It maybe suggesting that crude is going to remain where it is or even come down and that would be interesting to see, a relationship between crude and BPCL in this form. But the chart is suggesting that no matter what the Nifty does there is a buying opportunity in BPCL."

He further added, "After reaching Rs 400 Raymond stalled and the chart pattern now suggests that some kind of a distribution is going on. I do not know whether that distribution is going to continue and become a decline or just a correction. But it's dismal. So it has to be sold into."

Disclosure: I have no holdings in the above stocks.