Buy Havells India; sell NTPC: Sukhani

Technical Analyst, Sudarshan Sukhani of s2analytics.com is upbeat on Havells India and has recommended buy rating on the stock while NTPC is a sell.
 
Sukhani told CNBC-TV18, “Havells India has already done its bit on the downside. It had a very severe correction. That severe correction is now leading to a consolidation, a breakout on the upside and higher highs-higher lows. It is a classic uptrend. The market is choppy, so the rewards for long and short positions are uncertain but the trend is clear for Havells and it is on the upside. We want to go long in it. In a choppy market, whichever direction the stocks are taking, does give some leeway and maybe Havells will work out. The charts are very nice for the buyer.”
 
He further added, “NTPC was falling and then we saw a small rally for three-four-five days. That rally didn’t work out; it was a bearish flag in an ongoing downtrend. It has fallen down from that flag pattern. This suggests that the flag normally gets made halfway in a trend. It tells us much lower levels are likely in NTPC and that is not surprising because the charts are fairly weak. Today, we are looking to go short in NTPC and if it works, if the close is lower than our short selling price, we will carry that position.”