Sudarshan Sukhani of s2analytics.com told CNBC-TV18, “The sell calls are simply because there are many opportunities opening up in the midcaps, not in the large caps. So the Nifty is mildly bullish and the midcaps are now giving us that sense. So the Bank of India is a short sell, I am bearish on public sector undertaking (PSU) banks for a long time and that continues.”
“The other short sell is Indo Count Industries (ICL), there was a big decline and a small relief rally. So we are selling into strength here anticipating that the relief rally will end and the decline will resume. The iron ore and NMDC are going together, both are in a big mess. So NMDC probably is going to see lower levels. This is not a buy on dips stock, you continue to go short in it.”
“Two buying ideas, one is Apollo Tyres. We all understand there was a four days small decline after a big rally. That could be a bullish flag, probably more upside is coming and Indiabulls Housing Finance, I don’t even have to explain it, you just buy it,” he said.