Ashwani Gujral of ashwanigujral.com recommends buying State Bank of India, Bata and Siemens and advises selling UltraTech Cement and Bharti Infratel.
Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Given that State Bank of India (SBI) has reached Rs 180 and probably, it is now discounting, poor or lukewarm style results, this is a good time to buy it and any sort of positive surprise could really take it higher. But, from a risk reward angle, 6-7 days of downside, I think now, some sort of upside should come in here. This is a buy with a stop loss of Rs 175 and look for targets of Rs 192."
"Bata India is one of the strong momentum stocks that corrects for a couple of days and then again goes higher. This is a buy with a stop loss of Rs 568 and look for targets of Rs 590," he said.
"Yesterday, we saw Siemens, Larsen & Toubro, etc doing well, so infrastructure is kind of picking up. Siemens is a buy with a stop loss of Rs 1,150, look for targets of Rs 1,210."
"UltraTech Cement yesterday showed big red bar. Probably more correction can happen here, so sell with a stop loss of Rs 3,160, target of Rs 3,040. Bharti Infratel is a sell with a stop loss of Rs 375, target of Rs 350."
"Cement was one of the leaders of previous rally. The day cement stocks start to move back up, that will give you a pretty good indication that the market is ready to move higher," he added.
"Bata India continues to move up. In fact, most fast-moving consumer good (FMCG) stocks are moving up including Dabur India. Now, for the moment, the market is kind of pulling back towards Rs 7,700. So, Dabur is a buy with a stop loss of Rs 282-296. HDFC Bank is a sell with a stop loss of Rs 1,135, target of Rs 1,100 and SKS Microfinance is a sell with a stop loss of Rs 602, target of Rs 580."The Great Diwali Discount!
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First Published on May 6, 2016 09:54 am