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Mar 17, 2017 12:28 PM IST | Source: CNBC-TV18

HDFC may hit Rs 1600, JSW Steel can head to Rs 230; buy Jet Airways: Ashwani Gujral

According to Ashwani Gujral of ashwanigujral.com, HDFC may hit Rs 1600 while JSW Steel can head to Rs 230 and advises buying Jet Airways.

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Housing Development Finance Corporation (HDFC) is a late mover but chances are it will move probably like Reliance Industries because the stock has been in the Rs 1,200-1,400 band forever and now this breakout with all this money coming in, chances are it will likely lead you to Rs 1,550-1,600 also."

"ITC keeps going back to Rs 250 zone but finds decent support out there. So, chances are that once this GST is out of the way, ITC can get back towards Rs 300 from here," he said.

"Power stocks have been moving off and on so not surprising, NTPC also reversed. for Torrent Power, Rs 190 is a strong support. Probably in a good market, you can see Rs 235-240."

"All kind of metal stocks have started a fresh move and chances are that JSW Steel is heading towards Rs 225-230. So, even today metals are supposed to be opening about 0.7 percent higher. So chances are that metals rally should continue today."

"Jet Airways can be bought. Dredging Corporation is up almost another 4 percent. Also Mahindra and Mahindra Financial Services is moving up strongly. So, possibly Bharat Financial and M&M Financial could have a good day today. Overall it is basically FMCG and metal. The banks and IT are weak. Keep Rs 465 type of stop for Jet Airways and it could have a day where it could head Rs 500-510." 

"Jet Airways is a buy with a stop loss of Rs 474, target of Rs 500. Tata Steel continues to move higher, this is a buy with a stop loss of Rs 498, target of Rs 520. Indraprastha Gas (IGL) is a fresh mover, that is a buy with a stop losss of Rs 1,040, target of Rs 1,085."

Disclosure: Reliance Industries owns Network 18 that publishes Moneycontrol.com.

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