Ashwani Gujral of ashwanigujral.com is of the view that one can buy Edelweiss Financial Services and can sell Adani Power and Hindalco Industries.
Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Edelweiss Financial Services is a buy with a stop loss of Rs 276 and target of Rs 292. Adani Power is sell with a stop loss of Rs 41 and target of Rs 35. Hindalco Industries is a sell with a stop loss of Rs 260 and target of Rs 246."
"From a very charting type angle Rs 17 thereabouts in Jaiprakash Associates is the 200-day moving average. So each time it gets closer to those levels something works out and it tends to go higher. I would think if the markets hold up, Rs 27-28 is possible on the stock," he said.
"Bharti Infratel is a sell with a stop loss of Rs 356 and target of Rs 330. Tata Steel is a sell with a stop loss of Rs 770 and target of Rs 735. Container Corporation of India is a buy with a stop loss of Rs 1,430 and target of Rs 1,500."
"Edelweiss Financial Services seems to have entered some sort of consolidation, now longer term view and wealth management etc. then it has a long way to go. But maybe in the short run Rs 250 is a decent stop loss. I would think this is one of those theme plays which are still to play out to their full potential. So, that way if you hold it, no problem, but in the short-term, I think Rs 250-300 is the range."
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