Sudarshan Sukhani also said that JSPL, which is currently trading around Rs 190 per share, is unlikely to sustain this rally.
It was another day of red on Monday with the Sensex closing below 28500-level, dragged by heavyweights. However, banks and technology supported the market. The broader markets too were under pressure. The 30-share BSE Sensex fell 65.59 points to 28437.71 and the 50-share NSE Nifty declined 14.60 points to 8633.15.
Speaking to CNBC-TV18, Sudarshan Sukhani of s2analytics.com said the market is breaching new highs on an everyday basis now but it would be a good only if it sustains that rise or fall.
He believes JSPL , which is currently trading around Rs 190 per share, is unlikely to sustain this rally. Sukhani is gung-ho on pharmaceutical sector and believes it will continue to outperform. He likes Dr Reddy’s , Lupin , Sun Pharma among the pack.
He, however, recommends avoiding Voltas and DLF for now.
Adding to the discussion, Kunj Bansal of Centrum Wealth Management suggests buying midcap company PTC India Financial Services among the non-banking financial companies. He is also bullish on Swaraj Engines and Persistent Systems .
Mayuresh Joshi of Angel Broking is bullish on YES Bank among financials. Among broader market he likes Mangalam Cement and Dishman Pharma .