Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "There is a negative view in the short-term for the Nifty. That does not mean that the bull market is over. It means we are probably heading for a deep correction. Within this we are choppy and the markets are at 6250 which is a good place to be in. So there are midcap buying opportunities that are still abounding."
"CESC has just broken out into new highs. So for today as well as for somebody who wants to take a swing trade for a couple of days it is a buying opportunity. We want to see strength which CESC is showing and the best trade is always to buy into strength," he said. "United Breweries has gone through a deep correction, consolidated and broken out. It was in our buy list couple of days earlier also. UBL is telling us that for the time being the worst is over and a significant rally is probably in the offing. So it is a buying opportunity." "Telecom charts whether it is Reliance Communications (RComm), Idea Cellular or Bharti Airtel, all three are suggesting lower levels are coming. For today there is a short sell in Bharti Airtel. It is confirming a bearish head and shoulder of all the things to happen in a market which is almost at lifetime highs. That tells us telecom is looking at lower levels and it is probably going in for a deep correction."Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
