Buy Reliance Industries, Indraprastha Gas, Mahanagar Gas: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Gas is back strongly. So, Indraprastha Gas (IGL) is a buy with a stop loss of Rs 1,520 and target of Rs 1,565. Mahanagar Gas (MGL) is a buy with a stop loss of Rs 1,160 and target of Rs 1,200."

"Reliance Industries is a buy with a stop loss of Rs 875 and target of Rs 920."

"Zee Entertainment has broken key support around Rs 480. So maybe if post the results, etc. you could see Rs 425-430, but in this sort of a market I think there are much more long ideas than there are short ideas. So the right idea is to look for declines on strong stocks, something like L&T Finance Holdings, etc. which are making already highs of the day, get into those stocks. These are marginal short trades which beyond a day or so may not really work out," he said.

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