Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Ashok Leyland can go past its previous high also. It is in a mark-up phase, you will get good news plus you will get rallies in stock prices. However, it is cyclical. I think it could easily get to Rs 135-140. The rally is just getting warmed up. This is where I think positions are getting built. So, chances are this is probably the start rather than the end. So, this is one of the stocks that people should try to get into."
"Today financials are doing much better. So, Can Fin Homes and the NBFCs are picking up. So that could be a theme of the day while consumers are kind of take a day off. Reliance Industries is moving higher, so, it looks like the market is not ready to give up these current gains and possibly banks and financials could do well today," he added.
"Banks and Reliance Industries are acting better. So, I think the market should move higher post this early morning consolidation. So, we have added fairly strongly on the banks. Also, I think today should be a fairly positive day given that large stocks are moving today unlike yesterday where it was just one sector."
"ICICI Prudential is a much better stock than ICICI Bank. So people who have not made money or find it difficult to make money in ICICI Bank, I think this can easily get to Rs 600. For the moment, ICICI Prudential is a buy with a stop loss of Rs 475 and target of Rs 500."
"RBL Bank is a buy with a stop loss of Rs 518 and target of Rs 540. Reliance Industries is a buy with a stop loss of Rs 1,390 and target of Rs 1,430."
"BPCL and HPCL had sharp declines and post which they are finding buying. I think the best trade remains Reliance because once we get past Rs 1,425-1,430 type of zone, it will show more upside. BPCL and HPCL are more trading buys where they have declined almost 10-15 percent and from there chances are they could get fairly close to previous highs. However, oil & gas definitely provides a lot of good support to the market and once we can hang on to 9,600-9,620, then further building could be done on the indices."
Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd
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