Sudarshan Sukhani says to go long on Nifty today & tomorrow

Sudarshan Sukhani of s2analytics.com spoke to CNBC-TV18 about the technical trends the market is exhibiting at mid-day. He says that going long on the Nifty remains his call and stops are 5000 levels.

Q: Would you still encourage longs on the Nifty even at these levels?

A: Yes, in fact in the morning I had suggested going long just after the markets opened, and even at current levels that suggestion has been fairly decent. The point here is that we are in a short-term uptrend. But for swing traders or day traders, the short-term uptrend is what is watched. So at current prices, you still go long.

Either you maintain long positions or enter new longs for today and tomorrow. Your stops currently are at around 5000.

Q: How exactly would you approach the Bank Nifty then?

A: The same logic applies for the Bank Nifty. Today it