Long on L&T, Glenmark; short Tata Steel: Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can go long on Larsen and Toubro (L&T) and Glenmark while Tata Steel is a sell.

Sukhani told CNBC-TV18, “Larsen and Toubro needs to be traded on the long side. One has to buy it but one need not buy it today after a 60-70 points gap down and when the enviornment is uncertainty. So it’s far better to watch it and buy it when it either comes to some kind of a level where it stops falling down or where the Nifty stops falling.”
He further added, “Tata Steel is in a severe decline. There is a very minor intraday target of Rs 405 but even Rs 400 could be cracked on the downside. It’s a short sell."
“Buy Glenmark Pharma with a target of Rs 385-390. Glenmark could be one exceptional stock that could go up in a falling market but time it well. It’s a good intraday trade, even today, on the long side.”