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Buy Yes Bank, Indiabulls Housing, ICICI Prudential, Biocon: Ashwani Gujral

Ashwani Gujral of recommends buying Yes Bank, Indiabulls Housing, ICICI Prudential and Biocon.

January 20, 2018 / 02:25 PM IST

Ashwani Gujral of told CNBC-TV18, "In Yes Bank, Rs 325 is the stop loss. If one wants, one can even add at current level. Previous high is the first target. So somewhere like Rs 375-380 but I won’t be surprised if it can go up even further. If it is long-term even then your stop is about Rs 320-325."

"Indiabulls Housing Finance has been correcting since October 25. This used to be an outperformer and now from its 200-day moving average, it is moving up sharply. Similarly, Bajaj Finance, Bajaj Finserv, L&T Finance Holdings, etc - all of these non-banking financial companies (NBFCs) have gone through decent corrections from where they are coming out and given that financials are discovered their mojo back, I think NBFCs tie along with that and we shouldn’t forget that crude has cooled off couple of dollars."

"So maybe that has impact on inflation expectation, yields etc, so everything is playing into the mix and stocks, which were correcting are now showing strong rallies particularly ICICI Prudential Life Insurance, which went through a fairly painful correction, that painful correction is over. Even that is now ready to test previous highs."

"So ICICI Pru is a buy with a stop loss of Rs 420, target of Rs 445. Indiabulls Housing is a buy with a stop loss of Rs 1,280, target of Rs 1,340 and Biocon has made a fresh high, which is rare for a pharmaceutical stock. So this one is a buy with a stop loss of Rs 560, target of Rs 595," he added.
first published: Jan 20, 2018 02:24 pm
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