Buy BHEL, HPCL: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "After going into a trading range for almost a month, Bharat Heavy Electricals (BHEL) had a very good day yesterday. It broke out of that trading range, it had a very wide range day all on the upside, opened at the lows, closed at the highs; that tells us that at least a short-term up move has started.""What happens is that when a stock finally decides to bottom out this is what happens, it goes into a huddle, it goes into a range, it doesn’t do anything and eventually comes out of it. That is what BHEL has done. It is too early to say the worst is over but then it is possible. So, we are buying today in anticipation that the rally will continue and perhaps a base is slowly coming in place," he added."Hindustan Petroleum Corporation (HPCL) is a much better chart. It has gone into a small huddle, it has made a bullish head and shoulder and it is breaking out of that. It is a superior chart to BPCL. That sometimes happens, one of them starts showing signs, maybe BPCL will follow but HPCL is actually a positional buying opportunity. Let us take the context, crude goes up by USD 0.5-1, it means nothing when you take the context of where it has fallen from. So, I think these companies are in good shape," he said.