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Last Updated : Aug 20, 2016 10:26 AM IST | Source: CNBC-TV18

Cipla may test Rs 750, Bharat Forge Rs 1400: Ashwani Gujral

Ashwani Gujral of feels that Cipla may test Rs 750 and Bharat Forge may move to Rs 1400 in medium-term.

Ashwani Gujral of told CNBC-TV18, "The Nifty hardly had a 100 point range this week and because of that more and more it appears likely that we should have some sort of a range expansion or a breakout next week. So, chances are that one way or the other Nifty will breakout and we should get towards 9,000-9,100."

He further added, "Similarly Bank Nifty which has had a breakout even this week, that is kind of leading the Nifty towards the upside. Out there over a period of time, maybe next one month or so, you should have targets about 20,000."

"As far as weekly calls are concerned, several stocks bottomed out this week. So, from a medium-term perspective they start looking attractive. First one is Cipla; that one bottomed out with its results. So, out there we should have about five to six month target of about Rs 750."

"Bharat Forge seems to have bottomed out, a medium-term target of Rs 1,400 seems possible. Delta Corp after a long time has gone past Rs 125-130, maybe multi-year high. So, out there we should see a medium-term target of Rs 200," he said.

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First Published on Aug 20, 2016 10:21 am
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