Ashwani Gujral of ashwanigujral.com is of the view that one can buy Ashok Leyland, NMDC and JSW Steel.
Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Ashok Leyland is restarting a rally, that is a buy with a stop loss of Rs 118 and target of Rs 130. NMDC is a buy with a stop loss of Rs 144 and target of Rs 156. JSW Steel is a buy with a stop loss of Rs 290 and target of Rs 306."
"As long as Rs 27 holds on in Reliance Communications maybe there would be a resumption of the rally but in these sorts of stocks you can never say. So, it is important to keep nice stop losses right below the recent lows. So if it doesn’t work out you don’t get hurt but today's story chances will remain metal and they will close at the highs of the day," he said.
"Escorts is a buy with a stop loss of Rs 790 and target of Rs 825. Sun TV is a sell with a stop loss of Rs 1,050 and target of Rs 1,015 and Vedanta is a buy with a stop loss of Rs 335 and target of Rs 360."
"I think Axis Bank will see a move and it will probably pay some catch up with the other large private banks."
"You can never be confident about pharma. The good news is that they are coming out of hammered levels. Why is tech stocks going up because there was a certain amount of under ownership so wherever there is under ownership I think that will outperform. Cipla at the best of time is sideways - Rs 575-660. I don’t think much is going on here. There are other better stocks like Natco Pharma, Aurobindo Pharma, Wockhardt is doing well but I think pharma still has to get in to the IT grew. If something has changed it is probably made fresh high today the IT Index and the chances are there you will see out performance."
"At the best of times, I don’t think PSU stocks they outperform. SAIL at Rs 6 -10 it is a great stock to own, but at Rs 100 you are asking for trouble because a lot is priced in. At this point you want to move into Vedanta or Tata Steel and be safe. So that would be my recommendation because when an OFS comes in or something goes wrong you don’t know you want to be with pure play entrepreneurs who know what they are doing with the metals.""Yes Bank is pretty close to its recent bottom, so may be Rs 320 thereabouts can be a decent stop loss. I think at some point you will see Rs 400 and beyond this is one of the great private banks and its tends to correct quiet sharply, so that way I think Yes Bank should continue to move higher."