Sell Titan Industries; Buy Canara Bank: Sukhani

Sudarshan Sukhani, s2analystic.com advises traders to sell Titan Industries and buy Canara Bank.

Sukhani told CNBC-TV18, “Next week we are broadly upbeat on market at least when we start the week then we know how this works. Market can do anything but I have a sell idea and I will start with that and that is Titan Industries.”
He further added, “Titan has been a consistent sell in our list earlier also and the stock is also coming down so luckily the idea and the price pattern are both matching. The downtrend in Titan Industries is not complete. There is a trading range, a breakdown, another small trading range and an eminent breakdown again. So we are looking to sell Titan which also matches with our idea that the FMCG stocks are in a correction and likely to keep on going down. That’s a sell idea.”
“We must be in tune with the market and most of the trades that we do as traders should be on the long side so we start with Canara Bank. I have been upbeat on PSU banks for sometime now and luckily we caught the immediate start of the up move. Canara Bank is now on the verge of a trading range breakout on the upside. Looking at a target of may be Rs 550-570. It is not a day trade. You buy it and you hold it for a few days may be weeks and the rewards should come if the Nifty remains stable. PSU banks have been on a roll on the upside and that should continue.”
“HDIL has been a favourite for me in the real estate sector, Indiabulls Real Estate, HDIL and Prestige Estates. That doesn’t mean the other stocks are not good but we can only focus on so much. I have been looking at HDIL, going long in it, suggesting long positions and that continues. HDIL is giving us the same story – new highs for this uptrend and a willingness to go higher after a small range breakout. These small ranges in an up trending stock tell us that a new up move, up thrust is immediately coming. That is how we want to capitalize on it.”
“Strides has done wonderful things. It has moved up from Rs 300 to Rs 1200 it is four times. People go on asking for a multi-bagger sometimes these multi-baggers get hidden and we keep on talking about the other stocks while these do their own thing. I got bullish on Wockhardt only at Rs 900. But at Rs 900 also it was worthwhile. Same story for Strides. It had a sharp correction and that correction is over, it is beginning a new rally. This new rally should take it to new all time highs again. It is already doing that all time high stuff again and again. So these are four ideas. Naturally since the market themselves are upbeat most of the ideas are for buying.”