Bhushan Steel can move 10-15% higher; Escorts may test Rs 650: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Tata Communications has hits 200-day moving average of about Rs 650. I think still that 10 percent downside that we saw the other day, we won’t like to call this a trend reversal. We would like to see more on the upside before we say that it has turned around."

"Market is in that phase where the worst the stock, the better it is doing. So, chances are Bhushan Steel could move up even further, maybe another 10-15 percent is possible."

"Smaller cement companies are doing much better like I have Prism Cement today. Similarly, other small cement companies like India Cements, etc. could do well. ACC and Ambuja Cements did not really show follow through and didn’t close at the highs of the session. So, maybe they are not doing as well. For ACC Rs 1,750 is a very strong resistance. So, maybe on declines ACC can be looked at. However, overall, smaller cement is doing much better."

"Escorts had some sort of news from Supreme Court yesterday and that could continue to drive the stock up. Also V-Guard continues to run-up; Rs 235-240 on V-Guard. Escorts easily can head up to Rs 650. Certain bull market stocks which keep hitting fresh highs, all you have to do is keep buying the breakout till a breakout fails. So, no valuation is too high once the stock gets into some sort of bull trend."