Buy GAIL for long term, advises Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Reliance Industries is in a trading range, so the rally we are seeing is just part of that range. It is probably going to bounce on the downside also and remain locked."

"GAIL India is giving us a far better chart pattern. GAIL tells us that it is coming and entering a new bull market. Unfortunately, it is a very low volatile, low beta stock. Even the new bull market for GAIL will only be so much but even then it is a positional trade. Traders should be looking to go long in it for short term as well as for a medium term perspective," he said. Disclosure: He doesn't have any positions in the above stocks.