Buy Biocon, Ashok Leyland, Idea Cellular: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Biocon has also been a weekly pick. Something is changing here, so it remains a buy on all declines with Rs 540 as stop loss and target of Rs 565." "Ashok Leyland had a minor correction from Rs 112 down to Rs 107 and again it started moving yesterday. So, this is a buy with a stop loss of Rs 107 and target of Rs 150. The theme is get into stocks which are making one month, two months, three months highs, so you are going with strength," he said. "Idea Cellular after a big decline is now holding averages on the upside. That generally is the first sign that some sort of a rally is going to begin here. So, it is a buy with a stop loss of Rs 112 and target of 120. Telecom as a space is looking very interesting, so, possibly in the medium-term, Rs 130 is also possible here."