Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Couple of fresh breakouts are coming in, particularly on stocks which were correcting as the market was going up. So that looks like a good trade for the next couple of hours."
"One is UltraTech Cement which has just come out of a downside and is now moving up sharply. The other one is Maruti Suzuki which for several days could not get past Rs 9,400 and is now crossing Rs 9,400. The other plays, tech, IT, etc. have been moving. Now you want to get into stocks which have just started moving and coming out of a correction."
"Autos are moving strongly, Ashok Leyland, Bajaj Auto, etc. So I think it is a good time to get into Maruti as well."
"PVR is a buy with a stop loss of Rs 1,530 and target of Rs 1,575. Havells India is a buy with a stop loss of Rs 574 and target of Rs 600. Indraprastha Gas (IGL) is a buy with a stop loss of Rs 310 and target of Rs 326," he added.
"Maruti Suzuki hasn’t participated for last 8-10 sessions, so my sense is that that is kind of a getting into the act. We can buy with a stop loss of Rs 9,350 and look for targets of Rs 9,500-9,520. For many days it has tried to break the Rs 9,300 zone but hasn’t been successful. So chances are at some point it will breakout."
"UltraTech Cement has a very similar, this is a buy with a stop loss of Rs 4,350 and target of Rs 4,500."
"Vedanta which moved up sharply after many days of decline but possibly lot of these metal stocks could close at the highs of the day. So I think right now is a good time using this decline to get long for the next couple of hours."
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