Buy GVK Power, says Sukhani

Buy GVK Power, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "ITC is making lifetime new highs, so my analysis that it will under perform means nothing. But the trade here is go long; anything that makes life time highs has to be bought into. Although it is no relevant, it does appear that HUL is going to out perform ITC."

He further added, 'You have to sell S Kumars because it rallied from Rs 24 to 36. The tremendous 50% rally was something that was unexpected and the markets are now giving a big thumb down that yesterday’s 9-10% decline is not good. So first exit long positions and second look to sell on a small rally."

"The chart of GVK Power is looking nice. It went through a trading range for almost one and half months then broke out. Stocks that build bases, break out are the best stocks to be in. Then it had a very sharp rally, it is now correcting. I think this is only a correction and that base breakout theory still remains valid. So GVK is a buying opportunity, a modest target is Rs 15 but eventually it should go to Rs 18-20. It is a very nice stock to be long in."