Sudarshan Sukhani, s2analytics.com is of the view that one can stay invested in Unitech. “Positional trader can buy L&T Finance Holdings now,” he adds.
Sukhani told CNBC-TV18, “Unitech is now coming out of a very long bear market. There will be some choppiness, but the broad view is that it is now inching upward. It is just beginning an upmove and Unitech has fallen from very, very lofty levels, so it will not go there. But who knows it can double itself and we would not even know it. The trade is to stay with it.”
He further added, “Positional trader can buy L&T Finance Holdings now. There is no need to time it any further. What we have seen is a correction which is good enough.
On the banking space, Sukhani says, “I have been tracking PSU banks such as Canara Bank. PNB and Union Bank are now coming out of a trading range on the upside. I have not tracked Allahabad Bank, so I cannot respond to this one. PSU banks in general are cheerful.”
Disclosure: I do not have any positions in the Nifty. We have positional trades, but no intraday positions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
