Sell Voltas; Idea will head below Rs 100, buy Escorts: Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Three stocks are going down to one that is advancing. Everything went to a four-five day pullback rally and now it is coming down with momentum. That is the big issue for me. A mild correction won’t have really bothered me but 80-90 points just in three hours in the Nifty just means that the selling is getting accentuated." "Voltas is a sell with a stop loss of Rs 237 for target of Rs 223. Pidilite Industries after a large rally is kind of reversing, so that is a sell with a stop loss of Rs 621 for target of Rs 595. Escorts may be a Budget play, it is a buy with a stop loss of Rs 122 for target of Rs 136," he said."In a bear market 90 percent of stocks go down. So, once Idea Cellular breaks down below say Rs 100 it will restart its downmove. So a lot of things which showed you flourishes are not turning out to be pullback rally. So even in Idea Rs 100 will be broken soon."