Buy IVRCL, says Sudarshan Sukhani

Buy IVRCL, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "IVRCL made a very unusual, a rare pattern, a consolidation, head and shoulders which is not a reversal but it suggests a continuation, broke out of it, it is doing the right things, it is not overbought in the sense that if it were overbought then we could say okay, it might consolidate but that stage has not come."
He further added, "What happens is that when a stock moves up on news then after a couple of days of rally, people start getting into that disbelief, it cannot go up more and sometimes even the reverse short positions, counter trend positions are taken and that is the time when the stock really pushes up saying okay, here I am, going up much higher. I think IVRCL is in that area and it is worth buying into and keep a slightly wide stop loss, it is going much higher."
"Asian Paints is one of those dream stocks, which consolidates, goes up, goes through a minor correction, it has just finished its consolidation and the chances are it is going to make those lifetime new highs again. Apart from the day trade in Asian Paints, when this kind of a pattern comes, you want to buy it. In 15 days it is going to be 10-15-20% higher."