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Buy Britannia Industries; sell UltraTech Cement, Jubilant Foodworks: Ashwani Gujral

Ashwani Gujral of is of the view that one can buy Britannia Industries and sell UltraTech Cement and Jubilant Foodworks.

July 19, 2017 / 12:40 PM IST

Ashwani Gujral of told CNBC-TV18, "Britannia Industries is a buy with a stop of Rs 3,800 and target of Rs 3,920.  UltraTech Cement is a sell with a stop of Rs 4,300 and target of Rs 4,150."

"Jubilant Foodworks which has run up quite a bit is a sell with a stop of Rs 1,320 and target of Rs 1,260."

"Hindustan Unilever (HUL) has run up a lot. Nobody is saying that it is negative or it is going to go down a whole lot. However, a lot of stocks which are expecting good results, they may not give you the upside that you expect immediately on good results. It is not like Jubilant Foodworks, you need to have negative expectations to have the stocks move up. However, at some point maybe Rs 10-20 lower you can still go ahead and buy back into HUL. What I am looking for is what Reliance Industries does. Because if Reliance and banks throw in their weight behind the market, then chances are we should be able to head higher."

"Cipla or Dr Reddy's Labs are not quite in the same league in terms of charts as Aurobindo Pharma or Biocon are because both these stocks are above their 200-day moving averages. So, I would probably avoid the underperformers, and buy Aurobindo Pharma and Biocon all sorts of dips."

"Jain Irrigation has not done much in the last few sessions. However, I think today it is moving higher. Still range of about Rs 100-112, we need to move past Rs 112 for more upside," he added.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd
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