Sudarshan Sukhani of s2analytics.com is of the view that one can buy Colgate Palmolive, DLF and Tata Elxsi and can hold MMTC and Tata Communications.
Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Since we are at support, we are looking for opportunities to buy, assuming if there is a bounce, then stocks which we buy now and which are relatively strong, they will be outperformers for the next one or two days."
"Colgate Palmolive which had a nice and decent decline is itself at support levels and is showing signs of some mild outperformance. This is only about a couple of days or today. That is a buy."
"DLF is consolidating, it is outperforming the market as of now and the real estate is in any case in some kind of an uptrend. So that is a buying opportunity."
"From the IT pack, in Tata Elxsi a buying opportunity exists. So all three buying ideas assuming that this support zone in the Nifty will slowly begin to hold."
"MMTC is a hold. When I am looking at the charts, it is giving us a breakout and a support. The sense is there is an uptrend that has started."
"Tata Communications is also a hold. You buy and then stocks go into a correction, we have to accept that as a fact of life. I don’t think you should be worried about any temporary decline in prices. This is a strong uptrending stock; in the next three years you will be pleasantly surprised at the prices. Just hold on," he added.
