Buy Kotak Mahindra Bank: Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can buy Kotak Mahindra Bank.

Sukhani told CNBC-TV18, "Kotak Mahindra Bank has same pattern as HDIL in fact much better. A strong rally, a trading range and the trading range will always sometimes give the impression that it is breaking down, it never did. Kotak is now on the verge of a significant breakout on the upside."
He further added, "Mahindra & Mahindra (M&M) and Kotak of that broad group are giving excellent signs of strong uptrend’s resuming themselves. So, Kotak is a buy. Again, it is not an intraday buy necessarily; there is no need because there is more money if you carry it forward. Take the trade, use options or use December futures and continue with it."
"FMCG is doing well and consumer durables are also coming back into play as Hindustan Lever is doing, ITC is doing but Jubilant is distributing. Now, it can rally because Jubilant is a very volatile stock but if I were to go and short sell something and that is not necessary because in an uptrending market I don’t have to short anything. But if I were to then Jubilant would be a very appropriate choice. So, during the day if there is a sense that the market is stalling Jubilant Foodworks is a short selling idea and then if it closes weak it needs to be carried also."