Avoid ITC, HUL; buy Hindalco: Sukhani

Sudarshan Sukhani, s2analytics.com is of the view that one should avoid ITC and Hindustan Unilever. “I would buy Hindalco Industries and Canara Bank,” he adds.

Sukhani told CNBC-TV18, “The easiest way to trade is to buy the Bank Nifty and buy the Nifty then you need to cherry pick individual stocks. For those who want to go for stocks avoid FMCG, avoid ITC and Hindustan Unilever (HUL). Go for metals, go for real estate although its not Nifty heavyweight sector but the momentum is present there and go for PSU banks. So these are the three broad sectors where buying should be done today as well as on every dip and breakout.” He further added, “I would buy Hindalco Industries and Canara Bank. They also represent the themes that I am supporting. Tata Steel looks good, I am fairly upbeat on metals, they are showing good signs. In the banking space, all PSU banks are buying opportunities.”