Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Hindalco Industries is a selling opportunity and so is Tata Steel. Metals are giving us a message that a large distribution is taking place; that is worrying. However, for today Hindalco is a selling opportunity. Professional traders should take this opportunity to go short. Keep a stoploss, if something goes wrong the stoploss is there. It is a positional trade on the short side."
"To balance the whole short story a lot of stocks are doing well. The public sector undertaking (PSU) banks are doing remarkably well. I have been taking about how they are building bases. Even in today’s market Allahabad Bank is up. It is just breaking out. So, we should be buying PSU banks," he said.
"NBFCs has been a favourite sector. LIC Housing Finance is bucking the trend; that is another opportunity. However, I would point out that both the buying opportunities and should not be looked at as a buy today sell tomorrow (BTST) or just a day trade, they are primarily low dip opportunities for the next two months."
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