Go long in UltraTech Cement: Sukhani

Go long in UltraTech Cement, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "We are continuing to go long in outperformer and that's the broad theme. Look for quality stocks, look for outperformer, ignore the others, do not try any bottom fishing. I have been trying to explain this for many weeks now and that theme persists."
He further added, "We are going long in UltraTech Cement. The entire cement pack as we understand and we know has been outperforming and UltraTech Cement has done extremely well. It made new highs yesterday, so that's a place where we want to go long. Cement is probably a sector that will do well irrespective of what the broad market does."
"Financials are getting it on the chin, Rural Electrification Corporation (REC) which was giving impressions of entering a bull market has broken down from a trading range. Earlier also Power Finance Corporation (PFC) and REC had started coming in our sell list. REC's trading range breakdown tells us that lower levels are coming. It is not easy to say if this is the beginning of a bear market or it is a correction but whatever at least we are sure that it is a deep correction. So there is money to be made on the downside. So, REC is a short selling opportunity as are most financials and banks." Disclosure: I have no holdings in the above stocks.