HomeNewsBusinessStocksBuy Ajanta Pharma on dips, short PC Jeweller: Sudarshan Sukhani

Buy Ajanta Pharma on dips, short PC Jeweller: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com recommends buying Ajanta Pharma on dips and advises shorting PC Jeweller.

March 23, 2016 / 10:46 IST
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Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Non-banking financials are now coming out of a deep corrections as is the market. After a nice double bottom LIC Housing Finance consolidated corrected for the last four-five days and that correction seems to be over. So, again like many other stocks it is the renewal of the advance that was already existing." "Ajanta Pharma has classical chart pattern, a very attractive bullish head and shoulder, a significant breakout and then a pullback to the neckline. So, those who are technical traders will understand what the pullback means. It came back and gave up a lot of the gains. That found support and that support is now probably going to continue and bring it to its final original higher target. It is an ideal buy on dips stock with a very classical bullish patterns supporting it. It is more of a positional trade rather than a day trade for me," he said. "PC Jeweller has fallen a lot and one or two days is immaterial. It has not participated in the recent Nifty rally and that tells us it is relatively weak and probably an easy short."

first published: Mar 23, 2016 10:46 am

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