RIL, Kotak Mahindra Bank may head higher: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Something has to take the Nifty up and if we like the Nifty charts then today at least the largecaps were well identified. Reliance Industries is now breaking out of a nice bullish pattern and that tells us that at least it is willing to go higher. Reliance has been underperforming but that might change." Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com"Kotak Mahindra Bank in any case was doing well, again a consolidation and an imminent breakout on the upside. Mahindra and Mahindra had made a small flag and broken out of that flag on the upside and is telling us that higher levels are coming. There will be some largecaps stocks that will outperform and these are the names," he said. "There is a long list of midcaps. Two stocks that I have selected is DLF which has been my favourite when it broke out above Rs 125. I think DLF has a long way to go. Second is Jain Irrigation Systems, while I don’t actually look at a monsoon theme it is there for the monsoon. The charts are also suggesting that the worst is over. I think there is a lot of midcap opportunities just have to look at it.""The theme is that we should be buying. Alstom India seems to be getting out of a nice trading range and a bullish pattern. So, that is a midcap stock trader could be looking into. Don’t make a mistake of going short and stay long."