Prefer UPL: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "UPL after the spectacular rally is building a base at the top of that rally. It is not a distribution, it is absorption, it is a consolidation prior to another upmove. Now assuming that the Nifty doesn’t oblige it, it may not go up but it is not going down. So the slightest signs that it is stable, the markets are finding support somewhere gives us the opportunity to buy these stocks, for example Colgate and UPL."

At 10:23 hrs UPL was quoting at Rs 548.35, down Rs 4.65, or 0.84 percent. It has touched an intraday high of Rs 552.60 and an intraday low of Rs 544.