IVRCL can go to Rs 47: Sudarshan Sukhani

IVRCL can go to Rs 47, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "IVRCL does appear that just like GMR Infra and Lanco Infratech are now building a basing pattern, IVRCL is also doing that. So there is a buying opportunity. It is not just yesterday’s gains; the chances are that an immediate rally to Rs 47 is possible. Infrastructure is doing the right things on the charts. It is going to take a lot of time, but the bias should be towards buying it.”
He further added, “The IT keeps going up. This is the last leg of IT’s uptrend. Wherever it stops, it is going to stop there. All the big moves have already come and they are behind us. The same applies to HCL Tech. Maybe Rs 690-700, but we are now on the verge of seeing exhaustion patterns very soon come in on all the major ITs.”
“Maruti Suzuki eventual target should be Rs 2,000 plus and if I were to choose between auto and IT, now I would choose auto. We were very upbeat on IT a month ago, but that story is now getting over. Yesterday it had an off-day, all these things happen. Maybe a target of Rs 1,600, if buy on a dips, still the chances are that one can make money in Maruti Suzuki.”