Buy SBI, ICICI Bank, L&T; sell Graphite India: Sudarshan Sukhani
According to Sudarshan Sukhani of s2analytics.com, one may buy State Bank of India, ICICI Bank and Larsen and Toubro.
November 24, 2017 / 10:23 AM IST
Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "State Bank of India (SBI) and ICICI Bank are part of the banking Index. They are in the same consolidation that the Bank Nifty is in and both for me are buying opportunities."
"Most of the tech stocks are buying opportunities – Infosys, Tata Consultancy Services (TCS), Tech Mahindra, HCL Technologies, the smaller one like Hexaware Technologies, this entire sector is upbeat and whatever gains we get is different. It could be small because tech is low beta, but it is worth buying."
"PSU Banks are not a favourite, if at all we look at then Vijaya Bank, State Bank of India which is far better, I would avoid Bank of India. Dewan Housing Finance Corporation is an opportunity."
"Larsen and Toubro (L&T) is a buying opportunity. Reliance Industries is a buy even at current levels."
"Graphite India's big rally is probably coming to an end, wide range bars, big declines that tells distribution and smart money is selling. If anyone has it as a momentum play sell and get out."
"NBFCs do seem to be coming out of that brief correction. It does appear that consolidation we are seeing in stocks like Edelweiss Financial Services could break on the upside. These are now coming as buys," he added.Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.