Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Idea Cellular broke down from its 200-day moving average (DMA). That is a sell with a stop loss of Rs 87, target of Rs 80. Some of the pharma stocks have begun turning down, Sun Pharma is a sell with a stop of Rs 500, target of Rs 475. Interglobe Aviation is a sell with a stop loss of Rs 1,270, target of Rs 1,220. Titan Company is a buy with a stop loss of Rs 630, target of Rs 665 and UltraTech Cement is a buy with a stop loss of Rs 4,080, target of Rs 4,200."
"Even Reliance Industries will not be able to move up if the market is going down beyond a point. Yes, it can outperform, stand out etc, so on declines maybe fairly it is a decent buy but probably will not survive this sort of market decline. So, possibly buy it with a stop loss around Rs 1,500 on declines but overall it may head back towards Rs 1,650 and beyond. Over a period of time, Rs 1,800 is a fairly decent target," he added.
"For Manappuram Finance the rally started around Rs 90 . So on declines, towards that zone you should buy. In Ujjivan Financial, the rally is fairly recent so any sort of dip can be bought with a stop loss around Rs 330."
"JustDial has opened 5 percent higher, maybe there can be follow through but I would still go on the short side."
"Lupin is a sell with a stop loss of Rs 990, target of Rs 965. Punjab National Bank (PNB) is a sell with a stop loss of Rs 144, target of Rs 132 and Indiabulls Real Estate is a sell with a stop loss of Rs 240, target of Rs 226."
"But now since some buying should be done, Tata Global Beverage is crossing Rs 200, so maybe that would have a Titan Company type move like Titan had yesterday, so anyone who still wants to buy can get into L&T Finance Holdings and probably Tata Global."
"CG Power has been in this Rs 82 to 100 type of band, it needs to get past to Rs 100 to do things which are more exciting. Gas since yesterday is doing well and Mahanagar Gas and IGL could do their own thing while the market goes lower. MGL has broken through Rs 1,100 and possibly from here, you could have another Rs 100-120 point rally over a period of time."
"Bajaj Finance is in a strong uptrend. Possibly because of the qualified institutional placement (QIP) etc, it has moved up about one percent. So if you must buy something, this is something you can accumulate with the hope that at some point it will hit a new high but I don’t think it is breaking out."
Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd
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