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Last Updated : Apr 13, 2016 12:00 PM IST | Source: CNBC-TV18

Buy EID Parry, Siemens: Ashwani Gujral

Ashwani Gujral of is of the view that one can buy EID Parry and Siemens.

Ashwani Gujral of told CNBC-TV18, "Mahindra and Mahindra (M&M) is still kind of sideways but given that the market is now expected to move its index stock possibly this needs to breakout above Rs 1,280 and then you can probably expect a move towards Rs 1,400 but it is a weak auto stock, it is not in the same league as Hero Moto or Maruti Suzuki which has bottomed out. So it still needs to catch fire on the upside."

"EID Parry continues to push on the upside while other sugar stocks have been correcting. This is a buy with a stop loss of Rs 220 and look for targets of Rs 242. Siemens keep pushing on the upside, possibly capital goods is picking up, this is a buy with a stop loss of Rs 1,150 for target of Rs 1,210," he said.

"You will see in the next two months, people will hunt down stocks which have a rural audience and chances are anything rural will play out. This is a fresh breakout in Munjal Auto. So probably Rs 115-120 is possible in the stock."

"Hindustan Unilever (HUL) has made a strong move. ICICI Bank is taking out their previous intermediate highs with great amount of force so they are not leaving anything to chance. Often the previous intermediate high tends to give resistance but this kind of blowout of that resistance generally shows that that resistance is not going to be so significant. So anywhere where you have this 4-5 percent moves on big stocks, there should be strong institutional buying because no retail investor can take ICICI Bank up 5 percent. Today is going to be a big day even for ICICI Bank."

"Anything rural, anything agri is doing well. So PTC India Financial Services is a buy with a stop of Rs 38, target of Rs 46. PI Industries is a buy with a stop loss of Rs 645, target of Rs 670 and HUL is a buy with a stop loss of Rs 870, target of Rs 910."

"We will know monsoon is in three months but by the time the market will go crazy with these monsoon stocks, so the rallies have just begun yesterday, there shouldn't be any hurry of booking profit."

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First Published on Apr 13, 2016 11:11 am
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