Sudarshan Sukhani, s2analytics.com advises traders to buy SKS Microfinance at current levels.
Sukhani told CNBC-TV18, "I would buy SKS Microfinance . It fell from Rs 185 to Rs 135 that is a bear market for all practical purposes. Then it stopped. It started building a small base. It is not very large but at least it is a base. It is better than stocks that keep on falling and then suddenly start going up. So, compared to those stocks SKS Microfinance has a better pedigree as of now."
He further added, "A rally has taken it out from a trading range, pushed it upwards. If you are looking at a couple of days then you have to wait for a correction. You cannot buy on the back of big gain but if you are looking at a position trade maybe three-four weeks is worth buying even at these prices."
Sukhani told CNBC-TV18, "I would buy SKS Microfinance . It fell from Rs 185 to Rs 135 that is a bear market for all practical purposes. Then it stopped. It started building a small base. It is not very large but at least it is a base. It is better than stocks that keep on falling and then suddenly start going up. So, compared to those stocks SKS Microfinance has a better pedigree as of now."
He further added, "A rally has taken it out from a trading range, pushed it upwards. If you are looking at a couple of days then you have to wait for a correction. You cannot buy on the back of big gain but if you are looking at a position trade maybe three-four weeks is worth buying even at these prices."
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