According to Ashwani Gujral of ashwanigujral.com, one can buy ITC, Axis Bank, Century Textiles and Cera Sanitaryware.
Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "If companies are not viable, etc. then the matter is over. However, in any case, Tata Power and Adani Power were not doing too great. Tata Power forever has been in this Rs 70-90 type of band. So, towards the higher end of the range there was selling. Power companies and infrastructure remains a problem. You may say what kind of power investment is coming and buy power stocks and infrastructure stocks, but this is what happens when you buy infrastructure stocks. So, I stay completely clear of them and the consumer and NBFC and that theme continues to play out. These stocks will probably now languish, I think if anybody has them for some reason, you need to get out because this kind of 10-15 percent type down move often is not the end of it."
"ITC is a buy with a stop loss of Rs 275 and target of Rs 292. Axis Bank is a buy with a stop loss of Rs 509 and target of Rs 525. Century Textiles is a buy with a stop loss of Rs 1,070 and target of Rs 1,120," he added.
"Reliance Industries has turned today and that was the expectation, but I think it is bit over stretched. It should have turned from its 20-day moving average. You can say it is a red hot type trend and needs to cool off, maybe not fall, but stay sideways in this Rs 1,350-1,450 type of band. I think more sideways should be expected from Reliance."
"Archies stays at Rs 30. They have not been able to capitalse greatly. So, in a good midcap market, these stocks go up, but I don’t think anything much comes out of them. I think it is much better to buy something like Cera Sanitaryware or tile companies which are doing extremely well. Even Escorts, so, several spaces where stocks are making new highs."
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First Published on Apr 11, 2017 02:07 pm