Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "We sell Bajaj Auto. It is one of the better trades. The stock has been in a consistent correction and that correction is not over. Today it is on the verge of breaking out of a much longer support level; whether it breaks it today or tomorrow morning. The trade here is to be on the short side and expect a break down.”
He further added, “Larsen and Toubro (L&T) has made a distribution and is breaking from distribution. It had a big rally from Rs 800 to Rs 1100 and that rally is over. When a large rally gets distributed and sold into there is a lot of potential on the downside. So, short-term traders should be looking to sell L&T today and probably carry it or look at the same trade for the next few days.”
“Aurobindo Pharma has been a favourite for me. At this point after a mild sideways movement it is willing to breakout into new highs. So, that is a stock that you could really buy with a relatively low risk.”
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