Technical analyst, Sudarshan Sukhani of s2analytics.com spoke with Reema Tendulkar and Sonia Shenoy of CNBC-TV18. He shared his reading and outlook on the market and also gave recommendations on various stocks.
Sudarshan said, “Market don’t behave on rules, they work on sentiment and momentum, so we should be long. One should stay on the long side, do not short and let the market do what it wants”.
He advises buying Nifty or Bank Nifty or CNX-IT.
Below is the transcript of the interview.
Sonia: It is good going for the market, 8,400 hump has been crossed. You have been telling us to go long for a while, will that stance continue today as well?
A: There is nothing to tell us that the trend has changed. In fact because we have broken out of a bullish pattern, at least there is some sense that this market has probably more to go. We never can say how much it can go because market do not behave on rules, they work on sentiment and momentum. So, at this point, we should be long, if you are still not long at current levels, it is worthwhile buying some Nifty or Bank Nifty and CNX IT. Stay on the long side, do not go short, we will let the market do whatever it wants.
For stock specific ideas, watch accompanying videos...
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