Moneycontrol
Last Updated : May 21, 2016 11:52 AM IST | Source: CNBC-TV18

Buy Pidilite, Sundaram Fasteners; short BPCL: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com recommends buying Pidilite and Sundaram Fasteners and short BPCL.

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Nifty is likely to break the 7,700-7,900 zone and possibly next week we should get 7,600-7,620. Overall, global markets are narrowing quite a bit and that’s sort of building of energy which leads to fairly sharp decline."

"As far as stock calls are concerned, Pidilite Industries has had a fresh breakout on the monthly chart from a sideways movement, so longer term target here could be Rs 900, this can be bought. BPCL seems to be topping out at about Rs 900-950, so BPCL is now a short and a target of Rs 750 seems possible in the next few months," he said.

"Meanwhile, Sundram Fasteners is a stock which has completed its correction. It’s in a long term bull market and out there if you take long positions, a target of Rs 220 could be easily possible."
First Published on May 21, 2016 11:52 am
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