Sell Idea, M&M, Tata Motors; buy Kesoram: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Idea Cellular continues its bear market; that is a sell with a stoploss of Rs 84 and target of Rs 72. All of these telecom stocks went through pullback rallies. They made some sort of a low on the Jio launch day but again they are breaking down.""Similarly Prism Cement because of selling all over in cement, this should also decline. This is a sell with a stoploss of Rs 110 and target of Rs 98."He further added, "Mahindra and Mahindra (M&M) is breaking down. It is probably one of the weaker auto stocks. So, this is a sell with a stoploss of Rs 1,400 and target of Rs 1,340.""Kesoram Industries is behaving differently than most other cement stocks. So, sometimes it is just for novelty factor to have a buy call when you have four sells. However, obviously you can see my bias. This is a buy with a stoploss of Rs 166 and target of Rs 182.""Tata Motors is a sell with a stoploss of Rs 542 and look for target of Rs 515.""Banks have come down for a couple of days, so probably on rallies now most of these private sector banks are sell calls. However, you must remember that overall the long-term trend is up. So, while ICICI Bank is a sell, it is probably a sell till about Rs 235-240 zone and not lower than that. In any case it is an underperformer.""If I have to buy post this correction, I would still look at maybe IndusInd Bank or Yes Bank at lower levels. ICICI Bank, State Bank of India (SBI) they haven’t really performed in-line with the Bank Nifty. So, possibly a decline but not more than another Rs 20 on the downside," he said.