Buy Reliance Industries at lower levels, prefer pharma: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "I don’t know much about pharma but I bought Jubilant Life Sciences at Rs 600. It is at Rs 780 so it has done well technically and continues to remain at new highs. Other midcap pharma stocks have corrected, so Biocon, Jubilant Life, Ajanta Pharma, yesterday we saw even Aurobindo Pharma - there is a sectoral move in this midcap pharma space and chances are even Natco Pharma is doing well. So, a bit of allocation towards these spaces from just being domestic focus should payoff."

"Basically, Reliance Industries is going through a correction, so at lower levels, possibly Reliance is a buy. Oil marketing is kind of weakening, so possibly short on oil marketing and long on Reliance," he added.

Disclosure: Reliance Industries owns Network 18 that publishes Moneycontrol.com