Buy Ashok Leyland, Bombay Burmah Trading Corporation, Can Fin Homes: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Ashok Leyland is a buy with a stop loss of Rs 118 and target of Rs 130. Bombay Burmah Trading Corporation is a buy with a stop loss of Rs 1,500 and target of Rs 1,620. Can Fin Homes is a buy with a stop loss of Rs 460 and target of Rs 485."

"Even amongst midcap IT, Mindtree is not an outperformer. I think Hexaware Technologies, Sonata Software, Tata Elxsi are doing much better than this but if you just look at this in isolation, it has moved for many months between Rs 430 and Rs 560. Once we get past Rs 560 then you open up another 100-50 points on the upside. This is a large pullback rally."

"I don’t think any of these stocks will make new highs, so the sense is that the bottom is now done and now on the upside somewhere in the vicinity of Rs 650-700 finally is where this rally will probably reach," he said.

"Chances are that Fortis Healthcare remains in Rs 120 -Rs 160 type of band and out of that it will emerge only when there is some sort of news of acquisition or something happens. So, maybe there is some accumulation going on in here by strong hands, knowledgeable hands but overall from a very short term point of view, I don’ think there is much going on accept this Rs 120-160 range."

"There are other media stocks which have done better than Sun TV Network, maybe TV Today etc. but even on Sun TV you can keep a stop loss below Rs 800 and maybe look for targets of Rs 940-950."

"Glycols did nothing for many years and now it has gone up 5 times I think 6 months or something. Maybe it is some China factor which is playing in, so keep Rs 390 type of stop loss and maybe Rs 550 is the next target," he added.