Buy Britannia, Petronet LNG, Vedanta, Coromandel Intl, TVS Motor: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "We have often seen that these buybacks, etc. don’t tend to work out more than a couple of days. Infosys in my opinion is basically range bound, Rs 900-1,100. So maybe you will head towards the higher end of the range. So, that should be it; nobody should buy it because a buyback is coming because of some of that probably was priced in in this rally from Rs 900 to Rs 980. So, I would think maybe Rs 1,020-1030 should be the extent of the rally because of this."

"Britannia Industries started a fresh move. So, that is a buy with a stop loss of Rs 4,250 and target of Rs 4,425. Petronet LNG had a strong move. It is likely to make fresh highs. That is a buy with a stop loss of Rs 224 and target of Rs 239," he said.

"Vedanta is also a buy with a stop loss of Rs 292 and target of Rs 309. Coromandel International is a buy with a stop loss of Rs 445 and target of Rs 470. TVS Motor Company is a buy with a stop loss of Rs 580 and target of Rs 605," he added.

"BEML had a down day yesterday. Today again it is beginning to move up. Not only BEML, also BEL, so maybe there is some defence related play. So BEML is a buy with a stop loss of Rs 1,820 and target of Rs 1,900."

"Jain Irrigation has sprung back strongly above the 200-day moving average. This is a buy with a stop loss of Rs 97 and target of Rs 110."

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Ashwani Gujral

Technical Analyst|ashwanigujral.com

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"Dredging Corporation is a buy with a stop loss of Rs 616 and target of Rs 640. So there is bit of PSU flavour early in the morning."

"Tata Global Beverage is heading towards Rs 240-250 because when stocks move like this, when they move into a different zone, this buying does not end in a hurry. You can see what a Rs 4 dip is, how strong the buying is, so, BEML, Tata Global, they are in a different league and chances are whether or not market goes up or down, these stocks could move up strongly."