Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Mahindra and Mahindra (M&M) made a new high yesterday. It retreated again, but then the next 40 minutes could again see a rally here and auto stocks are in cheerful mood today. So buy M&M, expect the rally that we saw in the beginning of the day."
He further added, "Tata Communications is a buying opportunity. The stock after the big rally was in a trading range. Today it is breaking out on the upside from that range. That tells us there is more momentum towards close, but much more important, significant rallies are possible in the next few days. So both types of trades and traders should be alert to this."
"Metals are broadly weak. Hindustan Zinc was in a distribution. It has confirmed a bearish head and shoulder pattern. It is breaking down today. I am assuming lower levels are coming. Hindustan Zinc is a short selling idea, not just for today, but also for somebody who wants to build a position," Sukhani said.
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