Buy Raymond, REC: Sudarshan Sukhani

Buy Raymond and Rural Electrification Corporation (REC), says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Raymond is an excellent chart. It has completed its bear market, it is continuing to move up, days like today or days like last week are actually buy on dips opportunities for Raymond. There is no sense, there is no indication that the stock is breaking down, it is not. It is ready to make new highs and we want to buy stocks that are in the process of doing so. Even today in a choppy market, some stocks go up and I assume Raymond will be one of them."
He further added, "Rural Electrification Corporation (REC) has made a fairly bullish pattern, it has not broken out of it and then we have seen a lot of market turbulence, so it has not been able to do so. But at some point, the breakout should be on the upside. That means that REC after rallying from Rs 170-220 is willing to go much higher. That is good news. So REC is a buying opportunity."
"Today what is likely to happen is that the index may not reward anyone in day trading in short-term trading but individual stocks could and these are the two stocks for example which we have discussed should be watched for long positions.”