Buy RIL on dips, see higher levels in Indiabulls Housing Finance: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "The call on Reliance Industries from Rs 1,050-1,100 has been that this is now an expansion and when it didn’t expand, it did not expand for 10 years. Now that it does go in for expansion, chances are it will surprise you even on the upside. So, on all declines it should be bought. If this stock assumes leadership, then chances are you are on your way to a bull market. The last bull market was designed by Reliance and chances are even this bull market if we have to go to 11,000 Nifty will be led by this stock."

"Bharat Financial Inclusion I would think has enough short positions which get trapped. So, possibly it could get bagged towards Rs 830-840. Similarly, as long as Reliance Capital remains above Rs 600, it is in a new zone and Rs 730-750 will happen over a period of time. However, I see the market rally now moving towards capex oriented stocks, so, my attention would move from financials to infrastructure," he said.

"There is news flow backing Biocon but overall if you see, both pharmaceutical and IT are not doing very well. Biocon had a great year last year, chances are it will consolidate for a bit before it makes the next move."

"Indiabulls Housing Finance is done with its correction and I would see new highs here. So, maybe targets of Rs 1,150-1,200 should be likely," he added.

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