Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Lifetime new highs need to be bought almost everywhere. So, we start with three strong stocks which are already in uptrends and we have been buying them repeatedly every time there is a minor dip."
"Vedanta where a minor dip has probably been completed, just a two day dip, and a renewal of the uptrend is likely."
"Reliance Industries where again buying is justified, it was in a narrow trading range, had a dip which found strong support at the Rs 1,575 levels, bounced back from that support. I would expect new highs here also, lifetime new highs here. "
"The third is Motherson Sumi which has been in a trading range for the last three-four weeks. So, perhaps this breakout could be very impressive. We are just buying in anticipation of that breakout," he said.
"The fourth is Ceat. Another stock that after a big rally has been in a range, it is on the verge of breaking on the upside. So here also we are buying in anticipation. In a bull market it is okay to buy in anticipation of the trend continuing."
"I just have one short sell just to balance it out. SRF is making lower highs, lower lows every day. You could actually sell it as you buy the others. "
"State Bank of India (SBI) had a big day yesterday and the chances are it will continue. Maybe it will consolidate intraday; that is a different issue. However, for any minor dip, I would be a buyer. You have to buy SBI in anticipation of bigger gains by tomorrow afternoon."
"I can’t say if Biocon is a buying opportunity for the day, but it is an investment idea and worth buying at current level."
"DLF after many years is giving signs of life. It is a speculative stock, no doubt, but for traders buying DLF on dips is a good idea."
"Tech Mahindra, after the morning gap up, is a buying opportunity. It is coming out of a very large base. So, it is a swing trade, it is also an investment idea."
Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd
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