Buy Arvind, Ranbaxy: Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can buy Arvind. “Ranbaxy is a worth buying into because the risk is small, “he adds.

Sukhani told CNBC-TV18, “Arvind is still a buying opportunity. It has been in our buy list. We think the bear market or the correction is over and the chart is almost perfect. It rallies, corrects and then rallies again. The rallies are never sensational; they are normal, steady which is what we want them to be. Yesterday’s big move suggests that there is likely to be more follow through. So I would be a buyer in Arvind. We are already standing at significant resistance levels in the Nifty, so all this buying has to be taken in context. He further added, “Ranbaxy Laboratories is an interesting chart and worth buying into because the risk is small. It may or may not work out. It is building a base, building bullish patterns at the current levels and if that is genuine, if that works out then the reward is significantly more than the risk. So not only on charts, but also as an appropriate risk reward measurement, Ranbaxy should be bought into.”