Sudarshan Sukhani's views on JSW Steel, ONGC, Tata Motors for April 6, 2009

JSW Steel has lot of headroom: Sukhani
Technical Analyst, Sudarshan Sukhani is of the view that JSW Steel has a lot of headroom.

Sukhani told CNBC-TV18,

"JSW Steel is a far better option. Wait patiently for a dip. It fell far more than it should have. It built a small base. It is going up again. It has a lot of headroom. So, once it picks up momentum, some of these steel stocks can go up much more than we think. So, just wait for a dip."

Disclosure: It is safe to assume that analyst and his clients may have investment interest in the above stock.

ONGC a good buying opportunity: Sukhani
Technical Analyst, Sudarshan Sukhani is of the view that Oil and Natural Gas Corporation, ONGC is a much better opportunity at this point.

Sukhani told CNBC-TV18,

"ONGC is a much better opportunity at this point. Cairn India is going up for reasons that are not associated with its charts. So, that means one can see choppiness, you can see consolidation or even a dip. I wouldn’t go for Cairn."

He further added, "But ONGC is breaking out after a long trading range. That is not unusual because the Nifty is also doing that. It probably mimics the index sooner or later. So, ONGC is a good buying opportunity at this point. I am talking about investors, and with the full understanding that if the breakout goes wrong you lose money."

Disclosure: It is safe to assume that analyst and his clients may have investment interest in the above stock.

Stay away from Tata Motors: Sukhani
Technical Analyst, Sudarshan Sukhani is of the view that one should stay away from Tata Motors.

Sukhani told CNBC-TV18,

"I am not upbeat on Tata Motors. Rs 200 was a technical target. Obviously if the market goes up, Tata Motors will ride that wave. But it is likely to underperform. So, I would stay away from it.

Disclosure: It is safe to assume that analyst and his clients may have investment interest in the above stock."

Source : CNBC-TV18

Courtesy/Source: moneycontrol.com