Buy Infosys on dips; sell ONGC on rally: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Several stocks are breaking out. Amara Raja Batteries and Cipla are breaking out of strong consolidation, so there is a market outside the Nifty. Indo Count Industries is a buy with a stop loss of Rs 1,035 for target of Rs 1,075. Wockhardt is a buy with a stop loss of Rs 1,020 for target of Rs 1,075. Himatsingka Seide is a buy with a stop loss of Rs 204 for target of Rs 221.""Infosys wasn’t exactly trading at 52-week low. It has been moving higher, so that kind of move may be unlikely. However, given that it had corrected for the last four or five days, today’s gap up may qualify as a breakaway gap. Possibly, Infosys will move post TCS results because in case there is some sort of selling of TCS and buying more of Infosys, then you could see a rally on the upside but overall it remains in an uptrend but may be not as strong as may be earlier times where we have seen 10-15 percent moves post result days but definitely on dips it remains a buy," he said. "It is very clear that TCS is underperforming Infosys now and possibly on rallies you should move out of TCS and get into Infosys. However, it remains in a fairly tight range of Rs 2,270-2,300 on the downside and possibly Rs 2,750 upside. ONGC is clear a avoid, whatever happens, the company keeps heading down, so on rallies it remains a sell. I don’t think you will get passed Rs 245-250 very easily."