Stay away from rate sensitive stocks: Sukhani

Sudarshan Sukhani, s2analytics.com is of the view that stay away from rate sensitive stocks.

Sukhani told CNBC-TV18, “I would be very afraid of buying these (Jaiprakash Associates & DLF) rate sensitive momentum stocks because the trade here is to go long in the banks. The trade is to go long in the Nifty. These are the stocks that had fallen so sharply just four days ago, three days ago. So today’s trade is not to go with the momentum because a sharp pullback can then take the trader out of market. So, that trade is not visible to me.”
At 14:39 hrs Jaiprakash Associates was quoting at Rs 86.00, up Rs 1.15, or 1.36%.It has touched an intraday high of Rs 88.75 and an intraday low of Rs 84.70.
At 14:39 hrs DLF was quoting at Rs 264.90, down Rs 2.05, or 0.77%.It has touched a 52-week high of Rs 272.80.It has touched an intraday high of Rs 272.80 and an intraday low of Rs 261.00.It was trading with volumes of 1,221,028 shares, compared to its five day average of 1,029,930 shares, an increase of 18.55%.