Sell HPCL, M&M Fin, Tata Steel; buy Welspun India: Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Several stocks which had rallied sharply could now get into profit booking. So, Hindustan Petroleum Corporation (HPCL) is a sell with a stop loss of Rs 865, target of Rs 835. Mahindra & Mahindra Financial Services had a sharp rally, so that is a sell with a stop loss of Rs 278, look for targets of Rs 264.""Welspun India is a buy with a stop loss of Rs 96, target of Rs 108. This view remains as long as the Nifty is unable to cross 7,950-7,980 zone. That is basically the stop loss for all short positions on an intraday basis," he said."Vedanta rally did not start today. So, in case you got in at about Rs 7,500-7,550, today is a great day to take money off. But if you are looking for a longer term, and probably next one year, metals are going to do very well. Chances are you will see much higher levels, probably 15-20 percent higher easily from here.""In short term Tata Steel with all this good news is a sell, not a buy because this good news is building in right from Rs 200. So, on all stocks, positions should be pared off, because you are sitting on a fairly large rally from the last 5-6 day's perspective."