Sukhani told CNBC-TV18, “I would still buy Ranbaxy Labs. It was in my buy list in the morning and this tells viewers that we go wrong all the time. In fact Apollo Tyres and Ranbaxy were both in my buy list and both surprisingly are down today. That’s the markets for you.”
He further added, “The view has not changed, because Ranbaxy is now coming out of a long base. It’s breaking out. It’s doing all the right things. So I would be a buyer on every dip. Dip doesn’t mean just because we are speaking about it, we have to go and buy it. It means when the stock price stops falling then the trade here is to go long in it. Don’t go short.”
“SBI at Rs 1,850 if I am a long-term investor I wouldn’t worry about how much lower, I would simply buy a few shares for my portfolio. It’s a dream, this price. How much lower depends broadly on what the Nifty is doing. I sense the Nifty is going lower. I have been telling you that. So my own idea is that SBI can revisit Rs 1,450-1,500 this time.”
“Manappuram we cannot short, it’s not in the F&O list. We have talked about Manappuram many times and I have explained every time I was asked, should we buy now? I said please don’t touch it. That’s the only thing we can do with that one that don’t get into it. Even now it’s not worth buying. Suzlon is a disappointment, because I was very upbeat on the stock and when it rallied towards Rs 30 I thought maybe this is it, but clearly the market has its own wisdom. I am not able to suggest a short in Suzlon. There are many other opportunities elsewhere. So maybe Suzlon can simply be left aside till it decides to build a base.”
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