Sukhani told CNBC-TV18, " Cipla has done well. It is more in a trading range, it goes down, find support just a little below Rs 300 and then rallies. Currently it is in a rally. So we want to go into the stock at least to the top of its trading range, which is about Rs 330-335 and we still have the advantage."
He further added, "If it crosses Rs 335, it breaks out of that range and that gives us more movement on the upside. So Cipla’s chart pattern suggests that it is bottoming out, it is probably willing to go higher. I think today Cipla should be on most people’s buy list because likely gains are going to come and fortunately it is not so affiliated with the index, it is a pharmaceutical company that has its own dynamics, so it should work well."
"I would be a buyer in HDFC Bank and more because the buying list is very small now while short selling ideas are coming on the charts very quickly and there are number of them. So we have a choice in when we want to go in a choppy market and say okay, we want the buys and sells to be balanced.”
“At this point of time, the list of stocks showing chart patterns that I can use to buy that list is small and HDFC Bank comes in it. So rather than say that okay I am expecting big gains in HDFC Bank which is not necessary, I am expecting that HDFC Bank will outperform the market. It is a stable security, so I would prefer to go long in it. In case the market does turnaround and go up, HDFC Bank should be an outperformer even then."
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