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Last Updated : Jan 20, 2018 02:35 PM IST | Source: CNBC-TV18

Jubilant Food likely to rally to Rs 2,350, NIIT Technologies may test Rs 700: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com is of the view that Jubilant Food is likely to rally to Rs 2,350 while NIIT Technologies may test Rs 700.

CNBC TV18 @moneycontrolcom

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "The chart is pretty flat in Zee Learn. If you see since March, it has been trading between Rs 40 and Rs 50. I think with IT coming back, the plethora of choices you have – you can do much better than Zee Learn. So I would move on."

"One can use a break even stop loss in UPL. I think it has completed its correction. Around Rs 802 or thereabouts is the 200-day moving average (DMA), I think once it starts and you get a bit of agri-Budget etc, you could easily see levels of Rs 900 coming back. So this is a good point to enter a stock after it has been through a large correction."

"The only problem in RCF is that in the past Rs 125-130 has acted as some kind of resistance and being public sector undertaking (PSU) etc, it tends to remain rangebound but fertiliser stocks are flying. Look at GSFC, Chambal Fertiliser, Deepak Fertiliser, so maybe one can move into one of those private sector. In Coromandel International we saw it at Rs 170-180, today that is at Rs 560, so those are the kind of stocks you have to get in."

"RCF has had its run. Now Rs 15-20 higher, it will start getting into resistance. These stocks have limited kind of scope, so try to get into a private fertiliser stocks."

"Jubilant Food is now breaking into multi-year highs. The previous high was about Rs 1,960. So now above Rs 1,960, you open up a Rs 1,200 point upside. That may not happen immediately but definitely new highs means that everybody who has ever bought Jubilant is now profitable. So again the same story repeats that the supply dries up. So I would see a very quick rally to Rs 2,300-2,350."

"NIIT Technologies is a different case. The entire sector, entire space is looking positive and this is the first quarter of good results. My sense is NIIT Tech could also move up to Rs 650-700. So midcap IT, I think the good time is probably just beginning," he added.
First Published on Jan 20, 2018 02:35 pm
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