Buy Titan Industries: Sukhani

Sudarshan Sukhani of s2analytics.com one can buy Titan Industries.

Sukhani told CNBC-TV18, "L&T is a disaster. It is falling, it is now at Rs 1,200, it promises to come to Rs 1,000 again, it did that when we were in a bear market. But before any serious buying can take place, we have maybe a 20% decline here and for short sellers it is an excellent opportunity, would take a positional trade here, not just for today. You could buy puts for L&T and then just wait patiently. Together with BHEL, L&T is on the downside and the downside is likely to continue."
He further added, "Titan is a good chart. It made new highs on the back of news and suddenly we thought people won’t buy gold jewellery or whatever it was. It has started – that was a dip, it was a decline. So we want to buy good stocks on dips and Titan qualifies almost perfectly."
"Yesterday we saw decent gains and those gains came after a narrow range and a breakout from that. This is a pattern that suggests new highs are coming. So Titan is a buy, we can see follow through today if suppose the markets start turning around during the day."
"Titan should be one of the biggest beneficiaries together with Cipla and HDFC Bank, so it is in my buy list. For people who want to make positions, buy Titan, hold on to it and you will see very decent gains even in a market that retreats."