Watch the interview of Mihir Vora Director & CIO Max Life Insurance and Ashwani Gujral ashwanigujral.com with CNBC-TV18's Prashant Nair and Surabhi Upadhyay where they spoke about the road ahead for Indian marketsand shared their views on specific stocks.
Here are Ashwani Gujral's trading ideas:
On VIP Industries:
VIP Industries is a buy with a stop loss of Rs 246, target of Rs 262.
On DHFL:
Dewan Housing Finance Corporation (DHFL) is a buy with a stop loss of Rs 550, target of Rs 575.
On Future Consumer:
Future Consumer is one of the stocks which has not corrected sharply, so definitely with a stop loss closer to Rs 50-55, you can expect levels of Rs 80-85 on Future Consumer. So hold on, possibly add some if you want to and hold with a stop loss around Rs 50 and you should be able to get Rs 80-85.
On Ashok Leyland:
Ashok Leyland is a buy with a stop loss of Rs 118, target of Rs 130.
He can probably recovery his loss, but not in Sun Pharmaceutical Industries. He needs to move into Larsen and Toubro Finance or DHFL or maybe Ashok Leyland. Sun Pharma is not out-performing even in the pharma space. So that way, it is a laggard and chances are it will not get past Rs 600 really soon.
Stocks which are at all-time highs and particularly something like Avenue Supermart, you are getting over a 15 percent style correction. This is the time when you start to accumulate and basically, I would keep a stop closer to Rs 980-1,000. The sense is that nobody will easily sell this stock even though the valuations are high, etc because most people are making money and that is why such stocks, they continue to rise. So going by this 15 percent correction, this could be a good time to get into Avenue Supermarts.
On Reliance:
The problem is that he has bought it very close to recent highs and we should remember that it was only this year that it broke out of Rs 550-560 and that Rs 550 became Rs 860. So it has already had a 60 percent run. Now he needs to get his average price down closer to Rs 750-770, he needs to average down and then wait for the next leg of the rally. It is in a bull market, chances are at some point it will double from here. But for that, he needs to make his price more attractive so that he can make a larger amount of return.
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