Sudarshan Sukhani of s2analytics.com recommends buying Exide Industries and Rural Electrification Corporation and advises selling NIIT Technologies.
Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Exide Industries and Rural Electrification Corporation (REC) are for buying. Hopefully, this market will surprise us on the upside; both have the same patterns big rallies, consolidations and imminent breakouts from the consolidations. Almost all stocks, good quality stocks that are willing to go higher have this pattern. There is also a sense of disbelief in the market that we cannot go higher. So, if we eventually start moving up I think a lot of disbelieving traders will be trapped and that should be fun for the bulls, let us see what happens."
"NIIT Technologies is a short sell. It is standing at support. Even if it does rally for a couple of days there is a significant decline once it breaks down. So, it is a positional short not just a short-term," he said.The Great Diwali Discount!
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First Published on Aug 1, 2016 09:50 am