Buy Aurobindo Pharma, United Spirits may test Rs 3200: Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "The Nifty moved in a very narrow range this week and sometimes at the top of a rally, this can suggest that there is some indecision. If this continues for the next week as well then possibly the market will begin to start contracting and in that sort of a situation any trigger can take the markets lower. While individual stocks still provide opportunities, I think unless we are able to break out of 8400 or breakdown from 8250, there isn’t big opportunity on the large cap indices.""Similarly on the bank Nifty broadly 17900 to about 18300 is the range and at some point if we breakdown either of these boundaries we should get a large move.""As far as weekly calls are concerned, these are medium term calls. Pharma space has bottomed out from a medium term type perspective and several stocks are now showing strong upside. Aurobindo Pharma can be bought currently and probably in the next few weeks could see levels of even Rs 1050. Few weeks would probably mean 3-5 months," he added."Cipla seems to have bottomed out around the Rs 480-500 zone. In the next few months you could see Rs 700-750.""United Spirits has been showing accumulation from a longer term perspective and out here once decent results start coming in, I think Rs 3200 should easily happen," he said.