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Mkt to consolidate till Budget at 8000 levels: Experts

Sudarshan Sukhani is positive on IT and banking space. He advises investors to shy away from oil and gas sector except BPCL and HPCL.

In an interview to CNBC-TV18, independent market expert Ambareesh Baliga, Mayuresh Joshi of Angel Broking along with Sudarshan Sukhani of s2analytics share their outlook on various stock specific bets and where the market is headed hereon.

According to Joshi, market may consolidate till the Budget and find support at levels of 8,000. In addition, he sees market finding resistance at 8,650. He is bullish on Idea Cellular , Bharti Airtel , Eicher Motors  and Hindustan Sanitaryware & Industries Limited ( HSIL ).

Concurring with the view, Baliga sees market hovering around 8,000 in the first half of the January series. Moreover, he does not think the rebound by FIIs in the rally will last. Onto specifics, he is upbeat on DCB Bank  and Himatsingka Seide .

Meanwhile, Sukhani is positive on IT and banking space. He advises investors to shy away from oil and gas sector except BPCL  and HPCL .

Below is the verbatim transcript of Sudarshan Sukhani’s interview:

Q: The moneycontrol newsletter today headline read breakout above 8,250 is a buy signal. We have got that, so is this a confirmed buy?

A: Yes, we have got 78 points beyond that and we got it during the day, it wasn’t even a gap. So it was a good trade to be in and that applies to the bank Nifty also.

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