HomeNewsBusinessStocksFMCG stocks, Indiabulls Housing can head higher: Sukhani

FMCG stocks, Indiabulls Housing can head higher: Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that FMCG stocks can head higher and one may see higher levels in Indiabulls Housing Finance.

June 02, 2016 / 11:58 IST
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Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "This market is going through sector rotation that is a sign of a healthy bull market. We had banks and then we had IT and all the good FMCG stocks are giving us willing signs of going higher and breaking out. We talked about Colgate Palmolive, Hindustan Unilever is also giving us the same sign and Marico is another good pedigree stock which is giving us the same signal that this sector itself is willing to go higher." "Asian Paints is already at lifetime new highs may be today is not the good day to buy but yes the argument certainly extends to Asian Paints," he added. "DLF has been moving in a narrow trading range for months - one and a half months. It is now breaking out, so among the real estate stocks and many real estate stocks are doing well, DLF has the potential to give us a reasonable gain. It is just starting its upmove." "We come back to real estate in some form although it is a finance company. Indiabulls Housing Finance after that big decline is making a very nice patter of higher highs, higher lows that tells us that the bull trend in Indiabulls Housing is sustainable. So, higher levels should be coming. This is a bull market now, I think we don’t have to call it an uptrend; we can classify it as a bull market. We should try to buy as much as possible.""Deep correction in Hindustan Unilever is not over and it is likely to be an outperformer." "Punjab National Bank (PNB) for example had a very mild and tepid rally. It was nothing; we could hardly see it on the charts. PNB now is a short sell even if it moves higher you can sell in strength if it goes lower than yesterday’s close then we are selling in weakness. However, it is a short sell except for State Bank of India I would feel that all PSU banks are sells.""It won’t be exactly rural but Dabur is something I would advise long-term positional. It is just on the verge of a significant upmove. I would assume that Dabur is consumed in a lot of villages, rural centres."

first published: Jun 2, 2016 10:50 am

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