Balkrishna Industries may test Rs 1900, says Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "For the moment all of these bank stocks are range bound. For Bank of Baroda, Rs 160-165 is a support, on the upside it finds difficult to get past Rs 180-185. ICICI Bank also I don’t think is doing great things. The only two banks which are decent are probably IndusInd Bank and HDFC Bank which continues to make new highs, maybe add even Kotak Mahindra Bank. The rest of them, State Bank of India (SBI), ICICI, for all this resolution business have not really moved out of a range."

"Reliance Industries trade was at Rs 1,350. Now it rallied substantially from there and has gone up for several sessions. I would think that around Rs 1,340-1,350 zone, it will probably move sideways," he said.

"Most of the tyre stocks again continue to move up. Balkrishna Industries is probably the best performing tyre stock now. Easily we should see Rs 1,850-1,900. Can Fin Homes just continues to run-up. Possibly not a buying opportunity now on Can Fin but definitely one of the strongest stocks. Maybe Bank Nifty is kind of picking up, so, I would look to see if Yes Bank is able to show follow through above Rs 1,450," he added.

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