Ashwani Gujral of ashwanigujral.com suggests buying Reliance Capital, Larsen & Toubro and Vedanta.
Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "HDFC is heading towards Rs 2,000 but I don’t think today is a great day to buy after three days of upside. Similarly, on Yes Bank, etc, wherever you have these blowouts, possibly wait for some sort of a decline before getting in because the stops are 200-300 points away now."
"Reliance Capital is a buy with a stop of Rs 728, target of Rs 750. Larsen & Toubro is a buy with a stop of Rs 1,180, target of Rs 1,240 and Vedanta is a buy with a stop of Rs 273, target of Rs 287," he said.
"Infosys has a very strong base at Rs 900, so all declines towards Rs 900 should be bought into. I think in terms of stock prices, these stocks have bottomed out, now upside will be determined by better news or better results etc. but from here with Rs 900 type of stop, it can easily do a range which extends from Rs 900 to Rs 1,100."
"As long as Rs 275 on ITC holds on, all dips should be bought into. But it is not the kind of stock that was moving earlier. So while Rs 275 gives you a nice base, possibly financials should be the flavour of the week," he said."Any time you have down days on GVK Power, you can buy but this is for traders, I don’t think they have become great investments and people should think of three year horizon. Your horizon should be more like three weeks and keep strict stops and if you get your 25-30 percent, that should be off," he added.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Jul 31, 2017 11:05 am