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Sell Infosys; buy Balkrishna Industries, JSW Steel: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com is of the view that one can sell Infosys and buy Balkrishna Industries and JSW Steel.

September 13, 2017 / 12:05 PM IST

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Manappuram Finance is a little less strong than Muthoot Finance. However, even there we could see maybe Rs 125-130 happening soon."

"I think Edelweiss Financial Services is kind of consolidating. That could really move up even further. Motilal Oswal is just below its all-time high. Emkay Global Financial Services is moving from strength to strength. Even here short term trader can buy because it corrected for a couple of days. JM Financial is the one which could really do a catch up. So, if I have to choose, probably I would still go with JM Financial."

"Ashok Leyland was a great buy at Rs 80-85. Now if you hold it from there, maybe you can get another Rs 10-15. However, if you buy here, it is a trade, it is not a great investment. So maybe keep Rs 110-112 type of stop loss and look for Rs 135," he said.

"I think Ceat can get back up to Rs 1,900. MRF also participates in most tyre rallies. So, this is a market leading group. Any time market gets to fresh highs, they will see buying but they are not outperforming in this rally. So, that you need to understand that possibly you will get back to previous highs and we will have to see whether they can do much more."

"JSW Energy and Tata Power breakout and then nothing really comes out of them. So I am much more interested in Capital First call than maybe JSW Energy or Tata Power, because over there we can see follow through. JSW Energy now hits resistance around Rs 86 and similarly Tata Power needs to get past levels of Rs 90 before it can do anything significant," he added.

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"Infosys is a sell with a stop loss of Rs 890 and target of Rs 865. Balkrishna Industries is a buy with a stop loss of Rs 1,690 and target of Rs 1,750. JSW Steel is a buy with a stop loss of Rs 265 and target of Rs 282."

"Reliance Industries is also making a move after several days. So, chances are that we could get new highs even on Reliance. So, that is one of the leaders today and hence market is very likely to get past previous highs."

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd
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