Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "I think Jet Airways is making another move on the upside and generally once a stock trades at the high for most of the day, it generally tends to have a second half breakout which tends to lead it higher."
"The other stock is NIIT Technologies. This stock was subdued while the rest of tech stocks moved higher. It is actually an outperformer, so, chances are this could move up in the second half as well."
"Bharat Forge is a buy with a stop loss of Rs 720 and target of Rs 765. Balkrishna Industries, maybe rubber prices have come off, so, that is a buy with a stop loss of Rs 1,090 and target of Rs 1,150. Sun TV Network is a buy with a stop loss of Rs 950 and target of Rs 1,020."
"Today you have to take things with a pinch of salt because everything that got bashed up, is now moving up. DLF's 200-day moving average (DMA) is Rs 205. So we can easily go up to Rs 250 and the downtrend would not have been violated. I think this is a rally in most stocks back towards their 20-DMAs and some of them will hold on to that average, some of them will cross. So we need to figure out which ones are able to cross. However, everything in the market is right now going through a pullback," he added.
"Sonata Software is a buy with a stop loss of Rs 288 and target of Rs 304. Midcap IT has come back. Coffee Day is a buy with a stop loss of Rs 325 and target of Rs 342. Reliance Industries is showing some amount of strength. That is a buy with a stop loss of Rs 898 and target of Rs 925."
Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd
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