Buy RIL around Rs 1350; L&T, HCC may move higher: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "I think Reliance Industries is having some difficulty getting to higher levels. However, it is probably sideways type of phase; I think Rs 1,350-1,360, those are levels where you should try to get into Reliance. It is doing a 100 point range which is quite natural after a 40 percent rally."

"While Hindalco Industries has probably gone to previous highs, but in metals overall, the rally has not really started. You need a good global situation where metals perform. I don’t think that is likely for the moment; more likely is the NBFC rally continuing, but definitely all of them are down 7-10 percent. So, these are good levels to buy into them," he said.

"All products in this country for infrastructure are not worth looking at but infrastructure as a whole is looking up. So, chances are that once IRB Infrastructure can get past Rs 280-285 zone which is a significant high, I think you could have rallies right up to Rs 350-360. This is just because the market is entering into the capex phase of the rally. So, chances are IRB Infra, Larsen and Toubro, Hindustan Construction, etc., all of these are likely to move higher."

"I don’t think United Breweries is worth looking at. I think Cummins India and Ingersoll Rand are now moving higher. So, out there, we could expect levels of Rs 1,240-1,250 over a period of time," he added.

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