Wednesday, 16 September 2009

Buy Television Eighteen: Sudarshan Sukhani

Sukhani told CNBC-TV18, "I like TV18 and that is a surprise because I have been very bearish on that stock for many months and the stock prices have more or less justified my skepticism. TV18 after a very sharp correction - first a sharp rally and then a sharp correction – is in a trading range. Yesterday it picked up a little but that is what we need to know that maybe it is coming out of the trading range. So, it is a low price stock in a sense it has corrected a lot. So, there is a lot of potential on the upside. I am not talking about fundamentals but technically there is a buying opportunity here and once these themes get captured by the market, the rallies could be much higher. For a day trader, you have targets; for a positional trader, it could be very interesting.”

Source: Moneycontrol

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DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.