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Buy Reliance Industries, Canara Bank, DLF, Kolte Patil, NBCC: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com recommends buying Reliance Industries, Canara Bank, DLF, Kolte Patil and NBCC.

December 05, 2017 / 12:23 PM IST

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "DLF is a buy with a stop loss of Rs 226 and target of Rs 240. Kolte Patil is a buy with a stop loss of Rs 368 and target of Rs 385. NBCC is a buy with a stop loss of Rs 250 and target of Rs 275."

"Bharat Forge has corrected to its 50-day moving average. Overall it is a good uptrend, so can be bought around these levels maybe Rs 660 is a good stop loss and look for targets at about Rs 750. So that way Bharat Forge is a much better looking chart than many others."

"Canara Bank is a buy with a stop loss of Rs 365 for target of Rs 382. L&T Finance Holdings is a buy with a stop loss of Rs 163 and target of Rs 176. Berger Paints is a sell with a stop loss of Rs 251 and target of Rs 235."

"The reason we are optimistic on this pullback is because Reliance Industries has reached its 50-day moving average. The Bank Nifty has reached its 50-day moving average. So, once these big components are at their key averages generally there is turnaround even if it is temporary. If somebody wants to buy possibly this is a nice zone - Rs 880 type of stop loss and at some point you should expect Reliance to move back above Rs 950. So that way I think Reliance is a buy," he said.

"Bharti Airtel had that big rally but after that it is kind of getting sideways, so there isn’t any great follow-through to that large move we saw. But again if somebody wants to buy keep a stop loss say around Rs 460 and then hope for a move back towards Rs 560. But the way Infosys, Reliance and ICICI Bank are kind of holding on it does not look like a big breakdown is imminent."

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"Escorts has reached very close to its 200-day moving average. So it is generally a good place to get into any stock. Now keep Rs 600 type of a stop loss and once the Escorts rally re-starts maybe you can get Rs 780 on the upside."

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd
CNBC-TV18
first published: Dec 5, 2017 12:22 pm
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