Buy ICICI Bank, SBI, ITC, AB Nuvo; sell Hexaware Technologies: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "ICICI Bank and State Bank of India (SBI) are in my list for buying. For me, the charts are fairly bullish. ICICI Bank is making a very attractive bullish pattern and I saw Nifty Bank go up, it would also be because ICICI Bank is breaking out. Probably your fundamental news can overcome the charts. It is quite possible. So the trade still exists to go long in this. The only caveat is that you wait for half an hour or one hour if the markets are conducive, if the stocks are below yesterday’s closing prices, they are red, do not go long but otherwise I would still be a buyer in ICICI Bank and SBI."

"The other two buys are also index heavyweights. That tells you that my bias is on the bullish side. I do think that if this rally starts and you do not know if it will be led by financials, FMCG and energy. So, I have FMCG here again, ITC is making a small flag, a breakout could see a renewed advance and Aditya Birla Nuvo – again a small consolidation and that could break on the upside. The view is mildly bullish or whatever you can call," he said..

"There is one short sell, Hexaware Technologies. All IT stocks are going over the place on the downside and breaking support levels. Hexaware, midcap IT stock is in the F&O segment. It can be sold into and seems lower levels are coming."