Technical Analyst, Ashwani Gujral is of the view that Kesoram Industries can touch Rs 670.
Gujral told CNBC-TV18, "It is time probably for cement to start some participation. Kesoram has support at Rs 515 that could be headed for a target of about Rs 670. Rs 430 is possible on the upside in Birla Corporation."
Reliance Energy could head upto Rs 1350 level.
Gujral told CNBC-TV18, "Reliance Energy continues to surprise because now it has now achieved all kinds of targets that we had in mind. So probably one should keep a stop of about Rs 1,100 and just let it ride it, probably it could head upto levels of Rs 1,350. "
He further added, "Sterlite Industries commodities have started doing well so in that also one could see levels of about Rs 850-900."
Unitech may touch Rs 400.
Gujral told CNBC-TV18, "Interest rate sensitives stocks have a lot of expectations that interest rates will come down. DLF is a strong counter that should probably head towards Rs 900 in the medium-term. Unitech after some consolidation should go back to about Rs 400."
He further added, "Indiabulls Real Estate is trading at new highs, it has broken out a few days back that should probably head towards Rs 800, but again I am saying that we need to have a close eye on how much leverage and what kind of cost of carry this market is building up as we go forward because reactions will be quite steep and sharp."
Above Rs 730, Shree Renuka Sugars can touch Rs 900.
Gujral told CNBC-TV18, "If Shree Renuka Sugars can maintain Rs 730 it should look at Rs 900 that tends to move quite fast. It was a bad day today for Bajaj Hindustan but again support at Rs 170 probably Rs 225 is next. Balrampur Chini is around consolidation levels of Rs 70, we could probably see Rs 90.รถ
Tata Steel can go upto Rs 900.
Gujral told CNBC-TV18, "Metals, is a very strong group, Tata Steel is trading at new highs, I would not be surprised to see this at about Rs 900. I would not be surprised to see Sterlite at Rs 860-900. SAIL is looking quite strong, Rs 230 could be the next level on SAIL. So, there are things, which are looking strong even in this market."
Technical Analyst, Ashwani Gujral is of the view that once sugar stocks complete consolidation, we could see higher levels.
Gujral told CNBC-TV18, "The initial buying has come in now probably the government needs to do something more for these sugar stocks they have all climbed back above their Rs 200 day moving averages, which at least brings them in to a positive territory. Now from here they probably need to move sideways because this move up was 25%-30% once they can complete a sideways kind of consolidation, we should see higher levels.
Industrial Finance Corporation of India, IFCI has good support between Rs 82-85.
Gujral told CNBC-TV18, "RNRL needs to consolidate big time, I think Rs 65 is a sort of level to which it can correct. For IFCI, Rs 82-85 is probably a good support area that is where it needs to consolidate before it moves on to about Rs 110."
He further added, "Similarly with Jaiprakash Hydro-Power, it was Rs 55 few days back and suddenly it runs upto Rs 85. All these stocks need to cool off, build fresh bases before they can move higher because the kind of moves they have had, they have probably covered a lot of ground in one day. So now they need to move sideways and make some fresh basing patters here."
Source:moneycontrol.com
Gujral told CNBC-TV18, "It is time probably for cement to start some participation. Kesoram has support at Rs 515 that could be headed for a target of about Rs 670. Rs 430 is possible on the upside in Birla Corporation."
Reliance Energy could head upto Rs 1350 level.
Gujral told CNBC-TV18, "Reliance Energy continues to surprise because now it has now achieved all kinds of targets that we had in mind. So probably one should keep a stop of about Rs 1,100 and just let it ride it, probably it could head upto levels of Rs 1,350. "
He further added, "Sterlite Industries commodities have started doing well so in that also one could see levels of about Rs 850-900."
Unitech may touch Rs 400.
Gujral told CNBC-TV18, "Interest rate sensitives stocks have a lot of expectations that interest rates will come down. DLF is a strong counter that should probably head towards Rs 900 in the medium-term. Unitech after some consolidation should go back to about Rs 400."
He further added, "Indiabulls Real Estate is trading at new highs, it has broken out a few days back that should probably head towards Rs 800, but again I am saying that we need to have a close eye on how much leverage and what kind of cost of carry this market is building up as we go forward because reactions will be quite steep and sharp."
Above Rs 730, Shree Renuka Sugars can touch Rs 900.
Gujral told CNBC-TV18, "If Shree Renuka Sugars can maintain Rs 730 it should look at Rs 900 that tends to move quite fast. It was a bad day today for Bajaj Hindustan but again support at Rs 170 probably Rs 225 is next. Balrampur Chini is around consolidation levels of Rs 70, we could probably see Rs 90.รถ
Tata Steel can go upto Rs 900.
Gujral told CNBC-TV18, "Metals, is a very strong group, Tata Steel is trading at new highs, I would not be surprised to see this at about Rs 900. I would not be surprised to see Sterlite at Rs 860-900. SAIL is looking quite strong, Rs 230 could be the next level on SAIL. So, there are things, which are looking strong even in this market."
Technical Analyst, Ashwani Gujral is of the view that once sugar stocks complete consolidation, we could see higher levels.
Gujral told CNBC-TV18, "The initial buying has come in now probably the government needs to do something more for these sugar stocks they have all climbed back above their Rs 200 day moving averages, which at least brings them in to a positive territory. Now from here they probably need to move sideways because this move up was 25%-30% once they can complete a sideways kind of consolidation, we should see higher levels.
Industrial Finance Corporation of India, IFCI has good support between Rs 82-85.
Gujral told CNBC-TV18, "RNRL needs to consolidate big time, I think Rs 65 is a sort of level to which it can correct. For IFCI, Rs 82-85 is probably a good support area that is where it needs to consolidate before it moves on to about Rs 110."
He further added, "Similarly with Jaiprakash Hydro-Power, it was Rs 55 few days back and suddenly it runs upto Rs 85. All these stocks need to cool off, build fresh bases before they can move higher because the kind of moves they have had, they have probably covered a lot of ground in one day. So now they need to move sideways and make some fresh basing patters here."
Source:moneycontrol.com
