Sudarshan Sukhani of s2analytics.com told CNBC-TV18, “Beaten down high-beta names are not what I had in mind. They are primarily defensives. I do not use the word defensives, the chart says that we should buy, so we are talking about buying them. The names are well-known, HCL Techologies, Infosys and Wipro all three are giving very good patterns, Tech Mahindra.
He further added. "In pharmaceuticals, Dr Reddy's Laboratories as well as Cipla. These are five names where a lot of buying interest is coming on the charts and it should be sustained. One of the other names which is not in this group and which is a little different is HDFC Bank. HDFC Bank was a buy idea in the morning. The stock fell significantly and has rallied back. It is still lower than Friday but it is much higher than the lows it recorded intraday. That is something that is worth looking at apart from these two groups."
Also read: What Nomura expects from Infosys, Wipro, TCS, HCL Tech Q1
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