Here are Harsha Upadhyaya and Ashwani Gujral's market ideas

On UPL:

UPL again moving off its 200-day moving average. That is a buy with a stop loss of Rs 820, target of Rs 865.

On Tata Global Beverage:

Tata Global has restarted its rally today, so that is a buy with a stop loss of Rs 210, target of Rs 245.

On Vijaya Bank:

Vijaya Bank rallied up to Rs 70. It has already fallen back to Rs 60. That is basically the level from where the rally started on the recap. So I would think that only good PSU banks or large PSU banks like State Bank of India or Bank of Baroda or something like maybe even a Punjab National Bank, they would benefit the maximum out of this PSU bank recap. The rest of them, the weaker banks may not get a whole lot. So, my sense is this is a good time to move on to maybe a larger PSU bank, maybe a state bank because Vijaya bank basically has given back the entire rally post the recap.

On Yes Bank:

This week kind of showed you that possibly now the haloed private sector banks could take a backseat for a bit and PSU banks could outperform. But, if you have it at Rs 350 and today it is at Rs 300, I think these are the kind of stocks that you average down. At some point, Yes Bank will come out of its problems and possibly, he will get even levels beyond Rs 400. But you should use this sort of decline to average down your position.

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