Buy JSW Steel, India Infoline: Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can go long in JSW Steel. “, Indian Infoline is going up, the charts are fairly upbeat and there is a buying opportunity,” he adds.

Sukhani told CNBC-TV18, “That big rally confirmed a consolidation and JSW Steel has broken out of that, so there is buying here. We had referred to two steel companies earlier; Tata Steel and SAIL, both had fairly bullish patterns and JSW has a similar pattern. I still feel that Tata Steel and SAIL are better opportunities but as a trade independently, there is a long trade in JSW Steel.
He further added, “India Infoline is going up but brokerage stocks are not my favourite because there are so many other issues. But purely on a technical basis, Indian Infoline is going up, the charts are fairly upbeat and there is a buying opportunity. Yesterday was a big day for the stock, so look for a setback or a correction to enter it but brokerage stocks will find their limits very soon.”