Ashwani Gujral of ashwanigujral.com told CNBC-TV18, “Bharat Petroleum Corporation (BPCL) is a sell with a stoploss at Rs 695 and target of Rs 670. Escorts is a sell with a stoploss at Rs 735 and target of Rs 700.”
He further added, “Godrej Industries is a buy with a stoploss at Rs 625 and target of Rs 650.”
“All of these outperformers which we are going short on are shorts till the correction last, once Escorts is done with its correction I would believe that it could make new highs again to that needs to understand.”
“From medium term point of view Reliance Industries has corrected over a period of time but not because of this 20 point rally because if you to keep Reliance up only then can you sell other stocks down, so only if your view is like next three months then this is a good time to get in Reliance but I won’t bank on today’s rally sustaining, you could easily lose this gains once the market is done selling other stocks.”
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments and moneycontrol.com.
