Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "It is still a uptrend, now that uptrend may or may not work, that is for the markets to say but within this uptrend financials have done rather well today, surprisingly well. Bank of Baroda is one of the better PSU banks. Almost all PSU banks are giving signs of building a base and being willing to breakout. So, whether that happens or not we will find in the next few days. Buy Bank of Baroda today for a trade that can be carried till tomorrow.”
He further added, “Power Finance Corporation (PFC) is also another stock where a breakout is imminent. It is on the verge of breaking that Rs 260-270 very strong resistance. Once it does so decisively if there is a rally that could take it all the way to Rs 300. So it is only a day trade, not only a swing trade it could also become a positional trade. You start modestly with a tight stop. If it goes in your favour, continue with the trade.”
“One may buy BHEL. It is breaking about from a very large congestion trading zone today. So, today’s breakout in spite of the fact that it is 4 percent higher, it is worth buying into. Usually we say wait for a correction but there maybe no correction here. So, BHEL is the third in the list; all for buying,” he said.
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