Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Future Lifestyle was trading in a narrow range for many days, more than a month and today is now trading almost 7 percent higher. So that is a clear range expansion. I think it could do upwards of 10 percent. This is generally the season when these retail type stocks start moving. So that is not part of the official list, but that is nothing I just noticed."
"Similar sort of stocks which are breaking out of fresh consolidations should be looked at. Overall it is a PSU type day, so, BPCL is a buy with a stop loss of Rs 480 and target of Rs 510."
"Gruh Finance is a buy with a stop loss of Rs 480 and target of Rs 505. United Spirits is a buy with a stop loss of Rs 2,590 and target of Rs 2,670," he said.
"Even ITC has turned from its 200-day moving average, so, basically all of these stocks post that GST disappointment are now turning around. I would like Godfrey Phillips to get past its 200-day moving average which it is doing right now and possibly chances are it will get back towards Rs 1,300. However, ITC is still the preferred call because stops are nearby, hardly Rs 274 and even that could possibly do Rs 310-315."
"Biocon had bad news but there is no follow through on the downside. It is almost trading at the 200-day moving average. Now, again, it is a bad sector, again the stock has trouble, you can find better stocks, so, possibly let it be for the moment till the entire sector recovers. Biocon was outperforming and you can see how things go wrong in the sector. I would possibly give it a pass," he added.
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