In an interview to CNBC-TV18, Sudarshan Sukhani suggested short-term traders to take long positions in the Nifty and the Bank Nifty. "The short-term momentum in the market is in the favour of the bulls unless something unexpected happens. The market is now towards crossing all-time highs. So, one can prefer banks," he added.
Technical analyst, Sudarshan Sukhani of s2analytics.com feels that this market is not going to 6,300 in a hurry. He suggests to trade extreme rallies on Nifty and buy the dips.
In an interview to CNBC-TV18 technical analyst, Sudarshan Sukhani of s2analytics.com shared his reading and outlook on the market.
In an interview to CNBC-TV18, Jai Bala, chief market technician, Cashthechaos.com shared his view on the market and stocks across various sectors.
Nifty which closed below its 200-Day Moving Average for the first time after August 2012 is likely to hold on to current levels, however if it breaches the November low of 5548 then, bears are likely to unleash on the street
Technical analyst, Sudarshan Sukhani, s2analytics.com says Bank Nifty is showing signs of pressure since both its components, the PSUs and the large private banks are showing weakness.
In an interview to CNBC-TV18, SP Tulsian of sptulsian.com says that he is optimistic on the market till mid-January due to heavyweight results like Tata Consultancy Services (TCS), Axis Bank, Wipro, Reliance Industries, HDFC Bank all lined up for the next couple of days.
One can go long on HCL Technologies with a stop loss of Rs 620 for the target of Rs 750, as it is a relatively safe bet on the long side, says Shubham Agarwal of Motilal Oswal Securities.
Bank Nifty seems to have gone a bit sluggish these last few sessions. In an interview to CNBC-TV18, Anil Manghnani, Modern Shares & Stock Brokers defended the statement and said that yesterday stocks like Axis Bank, Yes Bank did well.