Buy GVK Power, says Sukhani

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

Sukhani told CNBC-TV18, "I am fairly upbeat on GVK Power. The stock has been consolidating at lower levels of Rs 11-12, it has been breaking out of that consolidation. We must remember that a lot of these stocks are not breaking out after a rally; they are breaking out on the upside after significant declines. So the chances that such breakout will be genuine and will be sustained. So GVK Power is a buying opportunity and immediate target could be Rs 13.50 but it is possible that eventually it could go to Rs 16."
He further added, "Adani Port is a buy but the charts are very weak compared to GVK Power or Voltas. It is a relatively underperforming chart. So if somebody is keen to take this trade then the trade is to go long, otherwise you can simply step aside but it is not a short now."
"ITC is weak, I have been assuming that it will again come down to Rs 225 and find support there and then we will see whether Rs 225 acts as a support or eventually breaks down. It is quite possible for the broad market to go one way and ITC to go the other way; we have seen this happen many times."