HomeNewsBusinessTechnicalsAvoid a short sell, mkt's definitely long today: Sukhani

Avoid a short sell, mkt's definitely long today: Sukhani

Sudarshan Sukhani of s2analytics.com spoke to CNBC-TV18 about where he sees the market going and what the best trades are for the day.

April 03, 2012 / 10:42 IST
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Sudarshan Sukhani of s2analytics.com spoke to CNBC-TV18 about where he sees the market going and what the best trades are for the day.

He recommends a buy on L&T, Zee Entertainment, TCS, Tata SteelCrompton Greaves, Bata India and Titan but recommends a sell on JSPL Below is the edited transcript of his interview. Also watch the accompanying video. Q: You were talking yesterday about the fact that the bias seems to be on the long side, you would continue that trade on the Nifty today? A: Yes, I would. I have long positions and I hope viewers also have it. That strategy should be continued. The short-term trend is now visibly up, not even sideways. There is something else, the broad trend is also up; we are in some kind of an uptrend and we have seen some correction. So once the short-term trend and the long-term trend align, that is a very good place to be in. I would maintain a bullish bias and for today specifically, I would suggest that there should be no attempt to go and search for a top or go and short sell. That should be avoided completely. Q: You have chosen some blue-chips to go long on today, let us start with L&T? A: L&T has been in a trading range, a very narrow band and it has been a disappointment, it has underperformed, but if the Nifty is likely to move up as I suspect, then L&T will join the party; if not in the morning, then in the afternoon. It is ripe for a breakout from that narrow band. So L&T is a good stock to be in today. I don
first published: Apr 3, 2012 08:38 am

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