Buying opportunity seen in IDFC, says Sukhani

Buying opportunity is seen in IDFC, says Sudarshan Sukhani of s2analytics.com.
 
Sukhani told CNBC-TV18, “IDFC and Axis Bank both are outperformers and will remain so. Both of them were also dependent on what the Nifty does from now on. I am assuming that the Nifty inspite of the choppiness is likely to move up further towards 6000 and higher. If that happens then IDFC and Axis Bank will also see significant gains and outperform. So today we are seeing choppy market conditions. For a person who is willing to carry a position, IDFC is a buying opportunity.”
 
He further added, “Infosys was bottoming out and would actually move higher, that hasn’t happened and sometimes the markets have a mind of their own and we don’t necessarily understand it every time. At this point the IT index has been consistently underperforming. Now charts are not that bad, it is not as if the chart patterns are poor or bearish or they have collapsed. They have simply gone into a trading range from where they are not getting out. So there is no need to go into IT as of now when there are other opportunities it is better to focus elsewhere until this comes out of a trading range.”