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Ashwani Gujral's top bets for trade today
Technical analyst Ashwani Gujral is bullish on Godrej Properties, Texmaco, Exide Industries, SKS Micro and Dhampur Sugar. He advises traders to buy into these stocks.
Speaking to CNBC-TV18, Gujral also spoke about his reading of the market and the road ahead.
Here are key levels:
On Dhampur Sugar
I think sugar is now getting the kind of news flow that would suggest that these stocks have bottomed out. For Dhampur Sugar, we can buy with a stop of about Rs 62. The target should be about Rs 77. From here, you should see steady upside in sugar.
On Exide
Some of these stocks just correct and keep making fresh highs. Exide along with Apollo did fairly well so we could buy this with a stop of about Rs 149, next target here could be Rs 171.
On Texmaco
This is the right time to get into your railway stocks, so that you make 35-40% till the Rail Budget. Texmaco seems to be the strongest of the lot, so we can buy this with a stop of about Rs 154-a target here could be Rs 168.
On SKS Micro
It is behaving just like Pipavav and Jubilant Foodworks after their listing because these stocks tend to consolidate after listing and then start breaking out since there is no overhead supply since nobody owns these stocks-they tend to do much better than the already listed stocks, which faced resistance. So out here we could buy this with a stop of about Rs 1,240, target here could be Rs 1,400.
On Godrej Properties
This is in a sector, which is down in the dumps. The stock is making new highs. We often keep talking about Unitech, DLF but this is a real estate stock that could, in case real estate sector bounces back, double from here. So this we could buy with a stop of about Rs 760. The target here could be closer to Rs 925.
