Ashok Leyland may test Rs 120 in medium term: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Nifty and the Bank Nifty continue to remain in a longer term correction. Whatever way the event pans out, the big buying opportunity will come as the market moves higher, for the moment I don’t think there is great positional trade on the Nifty or the Bank Nifty, wait for the event outcome and then try to get long.""There is great risk reward now on Ashok Leyland where a medium target of Rs 120 is now visible. Infosys is getting closer to Rs 950-970 and getting ready for a pullback rally. In fact the entire IT sector out there could see pullback rally with Infosys right up to Rs 1,080-1,100. Also, Axis Bank which had a sharp correction in any sort of pullback could also have a medium target closer to Rs 600," he said.