Buy IndusInd Bank on decline, says Sukhani

Buy IndusInd Bank on decline, says Sudarshan Sukhani, s2analytics.com.

Sukhani told CNBC-TV18, “I would be a buyer in IndusInd Bank. The markets are not disappointed, the markets sometimes behave strangely. So any minor dip or correction in IndusInd bank should be bought into. It’s moving towards Rs 400 almost certainly. Axis Bank has been an outperformer in the recent days but I would be weary of buying there. It’s far better to focus either on ICICI Bank or Yes Bank and IndusInd.”
He further added, “JP Associates, Punj Lloyd, Lanco and GVK Power are probably the best looking and the worst looking would be GMR which we should avoid at all costs. I would be a buyer on JP Associates. In the morning also I have suggested that we have had a two day dip, now we should go and buy it. That approach needs to be carried on. After 4-5% gains you don’t have to actually rush-in. Wait patiently for intraday consolidation, intraday dips, but be on the long side in JP Associates which is just beginning its bull market. L&T is a stock which is linked almost together with the index, so if the Nifty stalls at the current levels I would stay away from L&T. We need to look at blue chips in the current scenario only with the Nifty, not separately.”