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.
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .