Mkt may rally; Infy, Hind Zinc, Hero to do well: Sukhani

After yesterday's flat closing, the temperament of the market is to be long for day traders, said Sudarshan Sukhani of S2analytics.com. He said that the slightest sign of a rally will see short-term players and momentum players come in.

From the IT pack, Sukhani suggested Infosys as the best pick. Moreover, he indicated that 10% could come about in Hero Motocorp from the auto sector. Talking about the metals space, Hindustan Zinc seemed to have outperformed most stocks. He feels an immediate rally is possible to Rs 135-137 levels.
According to Sukhani, Bank of India has been a disappointed. However, he advised a sell on Pantaloon at every opportunity. Here is the edited transcript of his interview to CNBC-TV18. Also watch the accompanying video. Q: What happened in the last 15-20 minutes of trade yesterday? How do you see it play out today?
A: Somebody might have decided to buy. The markets were short-term oversold. There was big rush to cover up to add positions. We are oversold now. We have fallen 400 points. The slightest sign of a rally will see short-term and momentum players come in. The same thing should play out today. Yesterday, my suggestion was to wait patiently for today before taking a long position for a couple of days or even half a day. Today, wherever we open, the temperament and theme is to be long for a day trader. For positional traders, nothing has changed. Q: Infosys has piped Reliance overnight to be the biggest weightage on the index. Does that look bullish?
A: Yes, it is bullish. Infosys finished its downtrend at Rs 2400. It has been up. We saw a fairly decent correction. For the last seven days, Infosys is in a narrow trading range. It's underperformed both Wipro and TCS. This trading range is not going to last. Among the four, Infosys is the most interesting as the trend is clearly up. Infosys is a buying opportunity even for position traders. Q: Does Hero Motor look good as well this morning?
A: After a strong uptrend, it's in a trading range preparing to move above Rs 2,200 levels. But, now it is at the lower end of the range. It's reasonable to expect that a move to Rs 2,200 levels, which is almost 10%, can occur from here. The stock closed with gains. It's bounced repeatedly from Rs 1,900, including yesterday. A 10% gain in Hero Motors can eventually come about. Q: You have a sell call on Bank of India. How do the charts look?
A: Bank of India is a disappointing stock. It has been in a trading range. So far, it has outperformed the Bank Nifty, but it will change and the range will break on the downside. Yesterday, we saw a down day that was preceded by a down day earlier. We should see follow through Rs 5 down and then see a breakdown of that consolidation. Bank of India probably is looking around Rs 280-290 levels. My short-term targets are much more modest, but the trade is on the downside. Q: Pantaloon has been a complete washout. Is it primed for more selling today?
A: Yes. Yesterday, it touched the earlier lows. The patterns have changed. They have now become bearish. As we take out Rs 165 levels, we are probably looking at Rs 110 for a positional trader. The targets for a day trader are less. It's may be Rs 132-130 levels, but the decline is likely to accentuate. Pantaloon is now a sell at every opportunity. Q: Yesterday, we saw a good comeback in metals. Today, you picked Hindustan Zinc from that bunch. How do the charts look?
A: Hindustan Zinc has been an outperformer in the metal pack. There are some very decent patterns. If this market doesn