Sudarshan Sukhani of s2analytics.com is of the view that one may buy ITC and sell Mahindra & Mahindra Financial Services.
Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Buy ITC as it is coming out of a two month trading range. So, not only is it gaining today, that gains are also giving a sense that it is breaking out. If the Nifty is to go up then the chances are that this time ITC will be a major participant. So, it is worth taking a long position today. It is also a substitute for a long position in the Nifty, should the market be cheerful tomorrow. That is the buying; otherwise there are selling opportunities.”
"Mahindra & Mahindra Financial is clearly in a downtrend of some kind. It is breaking significant support levels one after the other. It is not as if it is topping. So, there is more downside here. Today also, it is weak. Traders can go short,” he added.
”Short sell Siemens; same story as M&M Finance, a very strong rally and then a sudden cracking and keep on breaking support levels. So, Siemens is a short sell. It is probably a positional short.”