The latest analysis and commentary by stock market guru Ashwani Gujral on what is moving the markets today. He also answered viewer stock queries.
He also spoke at length on United Spirits, Arvind, Hindustan Unilever, Tata Global Beverages, Zee Entertainment, Jubilant FoodWorks, Tata Steel, Tech Mahindra, Infosys, Wockhardt, Mindtree, IndusInd Bank, PFC, HDFC, Hexaware, Biocon, KPIT Technologies, and HDFC Bank.
On HDFC Bank, Gujral said, "HDFC is up 5 percent. Generally the same guys own both the stocks and HDFC Bank has corrected to a strong support around Rs 1,880 to about Rs 1,900. My sense is in the next couple of hours even this stock could perform in-line with ICICI Bank, etc. because it has been hammered into a support and now the overall sector is looking positive. As a disclosure, we have call positions in HDFC Bank."
"Hexaware is a buy with a stop of Rs 332 and target of Rs 348. Biocon is a buy with a stop of Rs 645 and target of Rs 670. KPIT Technologies is a buy with a stop of Rs 217 and target of Rs 230," he added.
Ashwani Gujral said, "Stock that I want to mention is IndusInd Bank it has been falling for the last couple of months. I think it is finding support now at lower levels and possibly a very small rally towards Rs 1,500 thereabouts should happen so today is a good time to get long on IndusInd Bank and stay long for a bit. This is a buy with a stop of Rs 1,380 target of Rs 1,440. PFC is a buy with a stop of Rs 90 target of Rs 101 and HDFC is a buy with a stop of Rs 1,700 target of Rs 1,750."
He said, "IT and pharma look extremely strong, if banks are down 150 IT is up 320 so that possibly IT stocks is where you should concentrate today. Mindtree has completed its correction that is a buy with a stop of Rs 805 target of Rs 830. Infosys is a buy with a stop of Rs 674 target of Rs 700 and Wockhardt is a buy with a stop of Rs 500 target of Rs 525."
Talking about stocks Ashwani Gujral said, "Tech Mahindra is a buy with a stop of Rs 690 target of Rs 720. Tata Steel is a sell with a stop of Rs 546 target of Rs 530 and Jubilant FoodWorks is a sell with a stop of Rs 1,040 target of Rs 1,010."
He also said, “United Spirits is a buy with a stop of Rs 556 target of Rs 580. Hindustan Unilever (HUL) is a buy with a stop of Rd 1,580 target of Rs 1,640, Tata Global Beverages is a buy with a stop of Rs 223 target of Rs 236 and Zee Entertainment is a buy with a stop of Rs 439 target of Rs 460.
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