Buy Wipro, HDFC; short Reliance Infrastructure: Sukhani

Jan 13, 2014, 04.04 PM IST

Sudarshan Sukhani of s2analytics.com is of the view that one may buy Wipro, HDFC and short Reliance Infrastructure.

Tags Sudarshan Sukhani of s2analytics.com, Wipro, Housing Development Finance Corporation, IDFC, Reliance Infrastructure

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Sudarshan Sukhani of s2analytics.com is of the view that one may buy Wipro, HDFC and short Reliance Infrastructure.

Like this story, share it with millions of investors on M3

Buy Wipro, HDFC; short Reliance Infrastructure: Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one may buy Wipro, HDFC and short Reliance Infrastructure.

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Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "There is a buying opportunity in Wipro . It had a minor intraday correct. It is now beginning a new rally again. IT stocks are just breaking out to lifetime new highs and lifetime new highs are bullish, that is an underlying theme we always respect."

He further added, " Housing Development Finance Corporation (HDFC) had a very severe and sharp correction. After that correction the stock was consolidating and it has broken out of that consolidation. So assuming that the Nifty does go up stocks like HDFC and Infrastructure Development Finance Company (IDFC) are going to participate. It is easier to buy them because they are already breaking out than to wait for the Nifty to breakout. HDFC is an excellent buying opportunity. Remember the markets can surprise us tomorrow also. So always be careful with your stoploss, be with your risk, which is a different issue. That is a way we manage our trade."

" Reliance Infrastructure is a Anil Ambani Group company and group is performing very poorly in terms of share price action and Reliance Infra is actually breaking down, so here is a short sell even in a relatively upbeat market; otherwise stay with the blue chips, stay with long positions with pharma and IT."

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