Buying opportunity seen in Union Bank, M&M: Sukhani

Buying opportunity is seen in Union Bank and M&M at current levels, says Sudarshan Sukhani, s2analytics.com.

Sukhani told CNBC-TV18, “Pantaloon Retail is always a surprise when it goes up but this time it has not touched my downside targets. So it is possible that bearish view maybe wrong. But at this point I cannot add anything more; I cannot say it is bottoming out process and we should buy. But if somebody is short this is a good time to get out of short position.”
He further added, “Union Bank is in that small class of PSU Banks, which have done better and which are probably not going to under perform. To that extent, it is a buying opportunity at current levels also after that 5-6 percent gain we have seen today.”
"We have been talking about M&M and how that stock is distinctly outperforming everything else. It has crossed Rs 900 but my targets earlier were somewhere around Rs 1000. So M&M is a buying opportunity, it is just breaking towards new highs. That is a stock that can be carried for tomorrow."