Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Metal stocks were going through a correction and yesterday that correction ended and the strength of the move showed that which side is the real trend. So, chances are that should continue because stocks are showing great amount of follow-through. Once you latch on to something that has turned, it should move for at least three-five sessions. I wouldn’t be surprised if all of these metal stocks make fresh intermediate highs."
"Also, something like oil marketing is on the verge of making a similar turn. So chances are maybe today, tomorrow, Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL) could start turning and moving higher," he said.
"Stocks like Tata Steel, Hindalco Industries, even smaller stocks like Kalyani Steel, etc have all shown good traction. So, I think metals could be the story for the next couple of days also."
"Gujarat Fluorochemicals is a buy with a stop loss of Rs 600, target of Rs 635. Motilal Oswal is also a buy with a stop loss of Rs 730, target of Rs 765, Jindal Saw is a buy with a stop loss of Rs 80, target of Rs 92. Bajaj Finance is a buy with a stop loss of Rs 1,140, target of Rs 1,200. Asian Paints is a buy with a stop loss of Rs 1,065, target of Rs 1,120," he added.