Go long in Godrej Industries: Sudarshan Sukhani

One should go long in Godrej Industries, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Godrej Industries has come earlier in our buy list. It was in some kind of a bear market like most of the Nifty stocks. It rallied after a small basing pattern, not very large. Yesterday it showed signs of very strong surging momentum. It made 50 day new highs; these new highs usually should be bought into. Therefore, this is a swing trade. It is just a couple of days, do not suddenly become a long-term investor. However, there is more momentum here and any opportunity after first 15-20 minutes of trade to go long should be used."
At 09:28 hrs Godrej Industries was quoting at Rs 317.25, up Rs 1.85, or 0.59 percent. It has touched an intraday high of Rs 317.45 and an intraday low of Rs 314.05.
The share touched its 52-week high Rs 331.95 and 52-week low Rs 231.05 on 09 January, 2013 and 19 June, 2012, respectively. Currently, it is trading 4.43 percent below its 52-week high and 37.31 percent above its 52-week low.
Market capitalisation stands at Rs 10,633.14 crore.