Buy HDFC Bank, Hexaware, Britannia, Balkrishna Industries; sell Cummins India: Sudarshan Sukhani
Sudarshan Sukhani of s2analytics.com is of the view that one can buy HDFC Bank, Hexaware Technologies, Britannia Industries and Balkrishna Industries and can sell Cummins India.
Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Hexaware Technologies is my pick, a small flag after a big rally tells us that a breakout from the flag which happened yesterday will take it to new highs. It is a very attractive opportunity."
"A similar pattern exists in Britannia Industries, after a big rally a small side way movement could be a bullish flag. It is breaking from that, there is higher levels coming here."
"The interesting chart is HDFC Bank. It has been in a trading range for more than two months and doing nothing. There is now the slightest sense that it is coming out of that range. It hasn’t done that, but it is giving us the first signs of bullishness, so it is worth buying into HDFC Bank."
"Balkrishna Industries which had a 30 percent gain in last one month, stunning it is and it is in the future & option now which is giving us a buying opportunity. A momentum buy for few days or even for today is now going into hurdle, small inside range bars that should break on the upside," he said.
"Cummins India is a short sell. The stock has been coming in as a short sell in my list repeatedly. It is falling all over and breaking support levels repeatedly, but primarily stay on the long side," he added.
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