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Last Updated : Jan 06, 2017 10:56 AM IST | Source: CNBC-TV18

Buy RIL, Petronet; see higher levels in cement stocks: Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can buy Reliance Industries and Petronet LNG and sees higher levels in cement stocks including ACC, UltraTech Cement and Ambuja Cements.


Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Reliance Industriesis on the verge of a significant break out. So, there will be a lot of nervousness in the current area. So, may be Reliance can consolidate but I am upbeat and earlier I had suggested that this could be the stock of the year among the largecaps. So, I would be a buyer and be invested in Reliance."

"All the three cement companies, UltraTech Cement, Ambuja Cements and ACC are suggesting that lows have been made and slowly and steadily higher levels will come," he said.

"Petronet LNG is on the verge of making new highs. This is a positional call, not for the day. So, you have identified a perfect chart, it has gone through a consolidation rather than a correction. That consolidation should end soon and we should see somewhere around Rs 450; that is a very ambitious target. So, it is a buying opportunity."

Disclosure: Reliance Industries owns Network 18 that publishes Moneycontrol.com.



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First Published on Jan 6, 2017 10:56 am
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