Buy Escorts on dips, says Sukhani

Buy Escorts on dips, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "I own shares in Escorts. I see that as an opportunity because as atleast for today it is a buy-on-dips opportunity. There was a very big decline and that decline brought it to a strong support level."
He further added, "If the upmove, if the thrust we saw is intact then there should be buying coming in today and it is wise, it is as well that day traders can participate in that buying. Again, you don’t have to go and buy it when the market opens. You have to watch whether Escorts or for that matter any share is now inching upward. If it is doing that it is worth buying into it."
"There is more downside in Reliance Infrastructure. All the Anil Dhirubhai Ambani Group (ADAG) stocks are in deep trouble except for RCOM, which has a long-term bullishness inherent in it. Apart from that now Reliance Infrastructure is again breaking down from that level of Rs 550, it has broken down yesterday, that gives us a much sharper downside target."
"Now I don’t know whether that targets are going to come but the trend is down, yesterday’s big bar is not – it is not a buy-on-dips decline yesterday we saw, it was a break of significant support. So when support breaks, first we don’t buy it and second we continue to look for opportunities to go and sell it. So I think not only Reliance Infrastructure, all the other ADAG stocks will become selling opportunities during the day today."