Buy SBI, Axis Bank; Torrent Pharma may go down: Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "It is easier to look at the individual bank charts, State Bank of India (SBI) and Axis Bank are both attractive buying opportunities even without looking at the Bank Nifty. So, we go and buy them, these are short-term trades for the day, for the two days depending on whether the markets do get carried away on the upside or not. I would be a buyer. The two themes that I am looking at for buying are financials that includes the private sector banks as well as the NBFCs and metals. That is the theme I am building on." "JSW Steel is on the verge of a significant breakout. It is really a positional trade not just a short-term trade. After a handsome rally it went into a trading range for six days and had a very good day yesterday and seems to be suggesting that a new rally is starting," he said. "Vedanta has also probably completed its bear market lows. That would apply to Tata Steel but Vedanta had a narrow range for five days, the same theme, if metals are doing well Vedanta should also see a breakout." "We are not talking about long-term investing anyway. We are only talking about short-term trades today, tomorrow and day after. Britannia Industries is a sell. The charts suggest that momentum is on the downside, there is no bullish momentum in the chart. It is weakening and the minor uptrend is on the verge of getting broken on the downside. So, there is a short sell here. It is a short-term sell, I don’t think Britannia has any damage to its long-term charts but that is really long-term.""Torrent Pharma is in a well established downtrend, so in a trading range market a lot of stocks will go down, some will go up Torrent Pharma seems like an easy stock that could go down."