Buy NTPC, says Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can buy NTPC.

Sukhani told CNBC-TV18, "NTPC has a defensive chart and its worth buying and it is immune to the market action. It’s not going to be immune if the market decides to go down again. But if the Nifty remains in a trading range then NTPC could go up."
He further added, "We have seen it fall from Rs 180 to Rs 140. At Rs 140 it’s doing all the right things; it’s made double bottom, willing to go up, seeing higher highs. So, NTPC is an excellent buy, not just for short-term traders but also for somebody who wants to hold the position."
He further added, "Jindal Saw is making new lows. It doesn’t stop. I sometimes wonder what is going on and of all the Jindal group companies it’s become one of the weakest. There is something wrong here fundamentally but the charts are very clear, stocks making new lows should be sold and we have a target of Rs 115 but that can easily be exceeded on the downside. It’s very unlikely that it’s going to stop there. But do not buy it." Disclosure: I do not have personal holdings in the above stocks.