Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "All stocks cannot be range bound. Obviously midcaps don’t care about the Fed, etc. they will continue to move up. So, more opportunity will be in smaller stocks. I don’t think Nifty stocks will really blow the lights out. However, definitely regular stocks which are in bull market will continue."
"So, going by that CESC is now pushing on the upside. That is a buy with a stop loss of Rs 1,060 and target of Rs 1,100. Escorts is pushing higher. This is a buy with a stop loss of Rs 670 and target of Rs 705. Gas remains in a strong bull market. So, Indraprastha Gas (IGL) is a buy with a stop loss of Rs 1,470 and target of Rs 1,520."
"Chennai Petroleum is a buy with a stop loss of Rs 445 and target of Rs 470. Welspun Corp is a buy with a stop loss of Rs 135 and target of Rs 152."
"Oil marketing is not looking as bearish as people expected. They are looking strong and possibly shorts will get trapped in that sector," he added.
"Power stocks are all over the place. PTC India looks a bit better, but I think you would still go with Kajaria Ceramics."
"Reliance Power has just crossed its 200-day moving average but these sort of choppy type stocks will take one day to reverse all of this. We would be much better off trying to buy into Reliance Industries even if it comes off during the day. I don’t think Reliance Power has much to give you."
Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd
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