The latest analysis and commentary by stock market guru Sudarshan Sukhani on what is moving the markets today.
He shared his views and readings on Bajaj Finance, Pidilite Industries, UPL, Coal India and Tata Chemicals.
Talking about stocks, he said, “Bajaj Finance is a buying opportunity. The stock has gone out of a small correction. It had a dip, it had a consolidation, it has broken out of that consolidation. I think there is more upside here, it is also a favourite for the market, so it is a momentum driven stock. Pidilite is a buy. It has an excellent chart pattern. It is a very rare chart pattern, a bullish head and shoulder, which is developing after a rally has taken place, a continuation pattern. It is a positional trade and of course a trade for today. UPL is a buy. It is already at new highs. New highs should be bought –if you see the charts, repeatedly it is making new highs. So buying at any point would have made money. So I have three midcap buying ideas. I also have two short sells, only intraday, assuming that markets could be choppy at some point and some stocks are not doing well. Coal India is one of them. The small rally in Coal India just fizzled out and Tata Chemicals is the other. Something is going on in the company which we don’t understand but the market does, both are intraday shorts."
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