According to Sudarshan Sukhani of s2analytics.com, one can buy HCL Tech and Apollo Tyres and short Bank of India and feels that Indiabulls Housing Finance and SRF may head lower.
Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "IT is the easiest sector because midcap IT is doing well. So, HCL Technologies is a buy. I would suggest that keep the buying timeframe very short; either today, keep it intraday or at the most tomorrow morning. This market is not giving a sense it is willing to go roaring up, so, the longs should be protected with the time stop. Just stay there for a short time."
"The second buy idea is Apollo Tyres. It has had a V-shaped rally. That rally could as well continue with the same caveat, maintain a time stop," he said.
"The shorts are so much easier to get, one is Bank of India (BoI). You literally could pick up any PSU bank and say okay this is my list and go short in PSU banks and don’t worry about the rallies, they won’t continue for long; they should not."
"Indiabulls Housing Finance is another stock that is on a break down. It is probably looking at lower levels."
"SRF which was a darling of the midcaps a few months ago, has given a large distribution and promises significantly lower levels. So, there are many shorting opportunities," he added.The Great Diwali Discount!
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First Published on Dec 21, 2016 09:59 am