Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "If the market is sideways, chances are ITC and Reliance Industries tend to remain sideways. However, ITC around Rs 260-265 is a good buy."
"Similarly, in Reliance I would like to buy this dip. I don’t think Rs 1,250 is likely to get broken again unless 9,000 gets broken. So, this decline that we saw yesterday should be bought in Reliance also," he said.
"UPL had a strong move even yesterday. Possibly it has got something to do with monsoon. However, I think it is slowly heading towards Rs 900."
"A lot of these PSU stocks sold off, but now they are sharply turning. So, I would get long on Bharat Electronics. Chances are that there are shorts in this stock and it could possibly head towards Rs 195-200," he added.
"Axis Bank is a sell with a stop loss of Rs 496 and target of Rs 470. Capital First is also a sell with a stop loss of Rs 760 and target of Rs 725."
"You can buy BEL with a stop loss of Rs 176 and target of Rs 190."
Disclosure: Reliance Industries owns Network 18 that publishes Moneycontrol.com.
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