Ashwani Gujral of ashwanigujral.com recommends selling ITC on rallies and advises buying Vedanta, JSPL, Ashok Leyland, Hindustan Unilever and Chambal Fertiliser.
Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "With this kind of gap down negating the entire macro event which created the 40 percent rally, the game is up on ITC. It is a change of trend and a change of trend which happens with a gap and on the back of news, people keep asking what to do with ITC. You are best served to probably sell it. Probably stop falling in Rs 250-270 kind of range because taxes is a big deal on ITC. We will have probably consequences for demand etc so everything collapses the entire rally which is going on since Rs 250 that probably will get given up. So no question of buying. On all rallies, ITC now becomes a sell on rally trade.""Vedanta is a buy with a stop of Rs 264, target of Rs 282. Jindal Steel & Power is a buy with a stop of Rs 137, target of Rs 150, Ashok Leyland is a buy with a stop of Rs 106, target of Rs 112. ITC gets sold off, so Hindustan Unilever Ltd (HUL) gets bought. So that is a buy with a stop of Rs 1,150, target of Rs 1,175. Fertiliser is doing extremely well - Chambal Fertiliser is a buy with a stop of Rs 129, target of Rs 138," he added.
First Published on Jul 18, 2017 09:37 am