Hero Motocorp can touch Rs 2200: Sukhani

Hero Motocorp can touch Rs 2200, says Sudarshan Sukhani, s2analytics.com.

Sukhani told CNBC-TV18, "Most of the trades that we are now locating for the next week are on the long side. It is important to understand that there is a sense that this market could actually breakout but we will see what happens. Gitanjali Gems is a part of the group that has done well and seen an IPO. Post IPO most of the stocks in that sector will go up, which is what is happening with Gitanjali as well."
He further added, "The stock saw a brief retracement and after that retracement it has renewed its upmove. It is quite possible that this leg we are seeing will be the final, the grand finale of its uptrend but that could be something bubble like, so here is a stock we want to buy next week and consider this for buying."
"The second stock is NMDC. We saw the IPO for NMDC, a significant price drop and then a strong support coming in. This is sometime long time investors should be considering. When a stock goes up, it starts and then moves higher, so that starting has already happened for NMDC. Next week we would see significant gains accruing in continuation of an uptrend. So both Gitanjali and NMDC are buying opportunities."
"Hero Motocorp has been a favourite. It is in a corrective mode and after a correction this stock is now going up. It went up to Rs 1868-1870, had a minor correction and then renewed its upmove. So we have quality here and the auto sector has been fairly cheerful. So we are looking and expecting the stock to touch Rs 2200, although that could take time and it may not happen next week but the trend for the stock is up."
"We also have one short sell; I suggest one should go short in IFCI. It has made a bearish head and shoulder pattern which tells us this stock is going down no matter what the Nifty does and no matter what the broad market does. Independently as well as a hedge, this is a stock we should be considering going short in."