Buy Adani Ports, IOC, UltraTech Cement: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Basically you have to trade according to the Nifty zone, so, once you get to 7,440 that is when these buys come into the picture." "Adani Ports is a buy with a stop loss of Rs 200 and target of Rs 242. Indian Oil Corporation (IOC) is a buy with a stop loss of Rs 393 and target of Rs 415 while UltraTech Cement is a buy with a stop loss of Rs 2,900 and target of Rs 3,050," he said."I don’t think Tata Steel at Rs 260 is really retesting its previous lows or Vedanta if it goes down by Rs 8-10, it is anywhere near its previous lows. So, those rallies, those declines is where I would like to buy because news is one thing but given the kind of bear market these stocks have had, I don’t think they are over-owned or anything. I think there is more upside on commodities given the way crude and metals, both are moving. We are going through a correction and this correction should be bought on commodities."