Expect Reliance Industries to test Rs 1040-1050: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "It is important to understand that a bottom does not mean we are going to new highs. A bottom just means that you are going to have an upswing. So given the way the markets are positioned, you should now expect a 10 percent upswing and then a 10 percent downswing, alternative bouts of buying and selling. So, probably Reliance Industries is also looking fairly good and out there we should expect probably Rs 1,040-1,050."Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com"IGL is a buy with a stop loss of Rs 530, target of Rs 564. YES Bank is a buy with a stop loss of Rs 745, target of Rs 770 and Wockhardt is a buy with a stop of Rs 830, target of Rs 910," he said.