Ashwani Gujral of ashwanigujral.com is of the view that one can buy United Breweries and Dredging Corporation and can sell TVS Motor.
Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "United Breweries is a buy with a stop loss of Rs 1,140 and target of Rs 1,175. Dredging Corporation is a buy with a stop loss of Rs 710 and target of Rs 745. TVS Motor is a sell with a stop loss of Rs 692 and target of Rs 670."
"Cleary since the day of its result Mahindra & Mahindra Financial Services has collapsed. Basically the support here is about Rs 440 but it all depends on which way finally the global markets move and stocks such as Mahindra and Mahindra Financial etc. you need to lighten up. Probably move more towards the larger cap because midcap have a lot of downside and if a global correction starts again this could easily get to its 200 day moving average of Rs 400 thereabouts," he said.
"ICICI Bank is down, now possibly something is getting expected there and also insurance stocks are down for some reasons. So ICICI Prudential is a sell with a stop loss of Rs 410 and target of Rs 392. CESC is a buy with a stop loss of Rs 1,060 and target of Rs 1,095. Bata India is a sell with a stop loss of Rs 715 and target of Rs 690."
"The best of HPCL is done now and you can merge it with ONGC, BPCL and IOC. I don’t think it will make much of difference and the owners are the same. If I take money from one pocket put it another pocket there is no open offer nothing. I think oil marketing in general will not give the returns that is has given in the last two to three years. So, maybe moving on is a better idea."