Technical Analyst, Ashwani Gujral is bullish on Canara Bank, Punjab National Bank, Mphasis, Deccan Chronicle and Hindustan Construction. He advises investors to buy these stocks.

Buy Canara Bank with a target of Rs 380 per share and stop loss at Rs Rs 345 per share

Banking has come back after a deep correction. Interest rates might be raised in the future. But we have seen that on earlier cycles, banking tends to outperform well into the rise of interest rates. So one can buy Canara Bank with a stop of about Rs 345 per share and target here for the short-term could be easily Rs 380 per share.

Buy Punjab National Bank with a target of Rs 920 per share and stop loss at Rs 870 per share

Punjab National Bank (PNB) has hit a new high, so that becomes one of the stronger, largercap public sector undertaking (PSU) banks. One can buy this stock with a stop of about Rs 870 per share and target here could be closer to Rs 920 per share.

Buy Mphasis with a target of Rs 785 per share and stop loss at Rs 675 per share

Mphasis has hit new highs. IT has remained strong and in a market that is still 400 points lower than its intermediate high, stocks hitting new highs are good bets. So we buy with a stop of about Rs 675 per share and target here could be Rs 785 per share.

Buy Deccan Chronicle with a target of Rs 162 per share and stop loss at Rs 145 per share

Buy Hindustan Construction with a target of Rs 143 per share and stop loss at Rs 128 per share