Ashwani Gujral of ashwanigujral.com is of the view that one can buy Glenmark Pharma and Jain Irrigation Systems and can sell Biocon.
Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Glenmark Pharma is a buy with a stop loss of Rs 610 and target of Rs 645. Jain Irrigation Systems is a buy with a stop loss of Rs 132 and target of Rs 144. Biocon is a sell with a stop loss of Rs 550 and target of Rs 525."
"The sort of stocks which are moving now are those stocks which haven’t moved. So, I don’t think there are great attributes in Welspun India but since it hasn’t moved at all, it has just about crossed its 200-day moving average. Generally, it tends to rally towards Rs 100-105 and then tends to peter off, so that way for the day I think these stocks could do well," he said.
"Crude related plays are doing very well, so something like Aban Offshore which did not move for many days and months is now moving up fairly strongly. It could be more upside here. In fact the target has just been met there of about Rs 246. The way this stock is coming out, I think easily Rs 280-300 is also possible on Aban Offshore."