Buy Ceat, Central Bank of India, Motherson Sumi; sell HPCL, SRF: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "PSU banks could again continue upsides, Central Bank of India is a buy with a stop loss of Rs 88, target of Rs 100. Ceat is a buy with a stop loss of Rs 1,870, target of Rs 1,940. Motherson Sumi is a buy with a stop loss of Rs 309, target of Rs 325. Hindustan Petroleum is a sell with a stop loss of Rs 514, target of Rs 495. SRF is a sell with a stop loss of Rs 1,560, target of Rs 1,500."

"State Bank of India (SBI) could have a 10 percent style rally, Rs 295-300 closer to whenever the IPO is done. But no need to get overexcited. All of these PSU banks are looking for a trading rally of 10-15 percent, which happens from time to time because shorts get covered. There is some good news, etc. but overall these are the banks which are creating the problem for the Bank Nifty otherwise probably Bank Nifty would be higher," he said.

"You can buy Reliance Industries but from here you have to take that incremental 10 percent type of call instead of taking the 40 percent call."

"Bharti Airtel has been hanging around this Rs 350-400 forever. Telecom is now more or less utility type of stocks. I don’t think they are going to make you great amounts of wealth. So I have no view on Bharti Airtel."

"United Spirits – buy on all declines as I have been saying that both with ITC and United Spirits are getting into some sort of a bull zone. So Rs 2,800-3,000 remains a target. So any time you get a decline, it should be time to buy."

"Lupin is up 2 percent, that rally continues. I think REC and PFC have also bottomed out. So possibly time to look at those stocks as well.

"Lupin remains a buy with a stop of Rs 1,100, target of Rs 1,165. Ceat is a buy with a stop of Rs 1,900, target of Rs 1,960 and Bata is a buy with a stop of Rs 565, target of Rs 590.

"Bata is a positional call. I do think that it has probably hit some sort of a bottom and in the next few weeks, we should cross Rs 600. Even Glenmark could see some upside but these are all trading moves and you have to understand that maybe 10-15 percent type move and then they fall back so that needs to be kept in mind. Glenmark and Aurobindo Pharma are two other stocks which could be looked at."

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