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Last Updated : Apr 10, 2017 11:16 AM IST | Source: CNBC-TV18

Buy BPCL; sell Indiabulls Housing Finance, Kotak Mahindra Bank: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com is of the view that one can buy BPCL and sell Indiabulls Housing Finance and Kotak Mahindra Bank.


Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "If Reliance Industries crosses Rs 1,450 thereabouts, the highs of probably Thursday only then you would say that this correction is mild. I would like to wait, this early morning opening may not sustain."

"BPCL is a buy with a stop loss of Rs 690 for target of Rs 725. Indiabulls Housing Finance is a sell with a stop loss of Rs 950 and target of Rs 925. Kotak Mahindra Bank is a sell with a stop loss of Rs 880 and target of Rs 850," he said.

"Often stocks need to rally a little bit before you can go short on them. I think Reliance Communications has failed to give you that kind of rally, but overall it seems that news flows that is there should allow you to sell. Rs 40-41 is a good stop loss and possibly if company is going under like the news flow suggest maybe we could find Rs 34-35 coming in on Reliance Communications," he added.

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Disclosure: Reliance Industries owns Network 18 that publishes Moneycontrol.com.

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First Published on Apr 10, 2017 11:08 am
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