Sukhani told CNBC-TV18, "There is no trade in Gujarat Gas . Its charts are very dismal. So it is best to avoid it. I think there is a very significant trade in Petronet and in IGL both. With sharp decline in IGL, it is a buying opportunity for an investor who is looking at a long-term horizon, it is a wonderful story, you are getting a good stock 40% cheaper."
He further added, "I know there is derating going on, there is news but I have often found that the market tends to overreact to the news. So I would say that wait patiently for a couple of days maybe next week once this volatility subsides, IGL becomes a buying opportunity. Why we want to wait is we don't know where it will subside, at current prices of Rs 190-200 we don't know that. So we want to wait."
"Petronet LNG could easily be a buying opportunity even prior to this volatility subsidization here because Petronet is in a completely different orbit, it is in a significant uptrend and this is a correction and that is all."
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