Stay invested in IDFC, says Sudarshan Sukhani

Stay invested in IDFC, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "One should continue holding IDFC. It is one of my favourite stocks now. It was in a bear market for years altogether. It seems to have completed a very big downtrend. It is now rallying. It is just in the first initial stages of its bull market that is obviously my perception. If that is so, then IDFC has a lot of headroom on way upside. Keep it as a long-term investment not as a short-term trade."
He further added, "Jindal Steel & Power is an underperformer. Markets are cheerful today and JSPL is prone to big reactions on news, but it invariably fails. So it needs to do a lot of work before we can say, okay this is worth buying into. It is too early."
"PSU banks are now divided in two parts which is unusual. There are some of the banks, Canara Bank, Andhra Bank even UCO Bank to some extent, these are banks that can be bought. If the markets show an undercurrent of strength and that is easy to say once they cross that hump of 5730 then some of these PSU banks are worth buying into for a short-term trade."
"There are some other PSU banks which must be avoided - PNB, Bank of Baroda, Vijaya Bank, a long list also. This list is divided in two parts. The ones that have shown resilience and strength will continue to outperform."