Buy Coal India, Aditya Birla Nuvo: Sukhani

Buy Coal India and Aditya Birla Nuvo, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Coal India went through a correction and then it stopped falling. That itself was a first sign that this is not a bear market; this is not a deep correction, it’s a shallow correction and then we have seen a double bottom and that’s very interesting pattern because normally double bottom comes after big declines but this one has come on a small correction. It is not willing to go up, so I could sometime classify it as a micro double bottom, a small pattern but it has bullish overtones, so one buy it. If the market is willing to go up today Coal India could be a major contributor."
He further added, "Aditya Birla Nuvo is a stock that been coming in my buy list on and off, sometime it works and sometimes it doesn’t. It has made a flag which is normally midpoint in an uptrend. That means that the eventual targets for this upmove could be more than Rs 1,100 and the fact that we are looking at Rs 970 as the closing price gives positional trade in Aditya Birla Nuvo. If it is going to Rs 1,100 obviously it will have big day trading gains, so for the day trader, swing trader and for the person who wants to maintain a position for few weeks, for all three of them this is a good share to be in."