KCP may go up to 100-104: Ashwani Gujral

In a chat with ET Now, Ashwani Gujral, Fund Manager, Ashwanigujral.com, shares his view on markets. Excerpts:

ET Now: Your take on KCP's price volume breakout and of course what is it that you are doing in the markets right now?

Ashwani Gujral: KCP used to trend strongly sometime back but from 86 it corrected right down to 60. Today it has moved up with very strong volume, big price action.

Today lots of midcap stocks are moving double digits. you have seen what has happened with Ingersoll. So, chances are we should get back towards 86 and then may be even 100-115. Similarly, another case in point is KEC where stock has been declining for a long time but today it is showing spectacular action from levels about 80.

Again, 100-104 is expected on KEC. Lot of these double digit type of stocks are showing much more sustained moves than the Nifty or the Bank Nifty.

As far as calls right now are concerned again some sort of PSU Balmer Lawrie that is a buy with a stop of 590 target of 635 which had a huge move after many days of consolidation, this looks like stuff like Dredging Corp, Titagarh etc. they have been doing well. This is the first day of Balmer is moving up. Then TVS Motors is a buy with a stop of 294 target of 312. Jain Irrigation is a buy with a stop of 66 target of 82.