Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Since the early morning, I expect some amount of decline to happen first before at lower levels there is short covering. I think telecom continues to remain extremely strong. So Idea Cellular on any declines is a buy with a stop loss of Rs 88 for target of Rs 100."
"Reliance Industries is a buy with a stop loss of Rs 900 and target of Rs 935. "
"On the sell side, I think PSU banks will continue to face pressure. Punjab National Bank (PNB) is a sell with a stop loss of Rs 134 and target of Rs 122. Reliance Infrastructure is a sell with a stop loss of Rs 458 and target of Rs 440. Bank of Baroda (BoB) is a sell with a stop loss of Rs 138 and target of Rs 126," he said.
"Two wheelers overall have been in a strong up trend. So given that, results, etc. are better, I think we could move further on Hero MotoCorp and look at Rs 4,150-4,200 here."
"Bhushan Steel is kind of news driven; I don’t know what the news is. However, definitely if things start to work out, these are those sort of stories which can really double in a matter of days. So that way if you can absorb that risk of losing 40 percent and gaining 100 percent, I think this is the time to get into such stocks."
"Since we are fairly global driven, chances are the Unilever news will impact. Rs 1,280 thereabouts is a high which has been touched couple of times; I think once we get past Rs 1,280, we will see Rs 1,400-1,420 fairly soon. So Hindustan Unilever (HUL) is one stock that you would want to buy early in the morning."
"Adani Enterprises, back Rs 145-150, again Granules type stock which does Rs 120-160."
"Reliance Capital is a buy with a stop loss of Rs 550 and target of Rs 590. United Spirits is a buy with a stop loss of Rs 2,490 and target of Rs 2,600. Gas stocks are again doing well. So Mahanagar Gas (MGL) is a buy with a stop loss of Rs 1,190 and target of Rs 1,250."
"United Breweries is more range bound than United Spirits. However, overall, both these stocks are coming off of lower levels of correction. So, generally speaking, I think both look like fairly decent buys. For United Breweries, Rs 820 is a fairly good stop loss and maybe you can get Rs 920-930 on the upside."
Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd
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