Buy Escorts, says Sudarshan Sukhani

Sukhani told CNBC-TV18, "Escorts had that big bear market while this market was going up. Now it seems that at least we are in for a relief rally and if it consolidates at lower levels, it could also start giving signs of a reversal. The reversal sense is too early but the relief rally is visible and these rallies just as they decline they can also go up very fast. So I would be a buyer in Escorts. In fact even for the day, if there is an opportunity, there is a minor dip or consolidation in Escorts, it is worthwhile going long in it."

He further added, " HDIL is something that we want to buy. This is a contradiction because real estate, I think is coming down but HDIL for the last seven days has been trading in a very narrow range. These narrow ranges inevitably lead to some kind of a breakout or a breakdown. The charts for HDIL suggest that a breakout is more likely than one on the downside. So whenever that opportunity comes, if it comes today, good otherwise in the next few days, HDIL should be a long candidate."

"I am not very impressed by power stocks. Simply because when we look at the chart, we take a call, okay, this is up or down. So Tata Power is up but I wouldn't go and buy it under any circumstances in spite of that rally. Power stocks are broadly in a very poor shape. So there is no need to go to a sector which is unlikely to outperform."