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Buy HDFC, Adani Ports, Indiabulls Housing: Ashwani Gujral

Ashwani Gujral of suggests buying HDFC, Adani Ports and Indiabulls Housing.

July 04, 2017 / 03:25 PM IST

Ashwani Gujral of told CNBC-TV18, "On Infosys, Rs 900-920 has been defended again and now it is moving higher. So if one side of a range keeps getting defended repeatedly, often the stock comes out from the other end. So I will not be surprised that the market finds something positive in their results, etc. because Rs 900 would have broken by now if it was really that weak at those levels."

"Similarly, HDFC has come back. That is a buy with a stop loss of Rs 1,620 and target of Rs 1,680. Adani Ports is a buy with a stop loss of Rs 370, target of Rs 384," he   said.

"From a very positional type of view, I think these declines on Indiabulls Housing should be bought into, but for the moment, we need this to turn around. You need the entire NBFC housing finance space to turn around to do that buying. Overall, for the moment, you would just let it correct and then possibly come back with results or some trigger which tells you that it is probably going a couple of hundred rupees higher. All of these stocks have not participated in this rally and that is why this sluggishness is there on the Nifty."

"The good news with stocks at new highs is that nobody is in a hurry to sell and ICICI Prudential is that kind of stock where institutions, etc. want to buy and if supply is short, things can really go up a lot. So I will not be surprised if it gains another Rs 100 from here. It is a new space, kind of as they say, a greenfield type sector which was not there earlier. So chances are that as more and more listings and insurance comes in, it could easily get closer to Rs 580-600," he said.
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