Markets trying to come out of the woods: Ashwani Gujral

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

ET Now: What are you doing in the markets right now, what kind of trades on the indices and what specific stock recommendations for the day?

Ashwani Gujral: Later in the day, financials have come back strongly and that has helped the market get back above 8650. So now you can say that after a lot of choppiness, the market is probably trying to come out of the woods. As we go into the close, you have all kinds of financial like Can Fin Home, Chola Finance, Edelweiss, everything is doing well and hence this breakout.

Today, Fin Homes is having a special day where it breaks out again towards fresh highs. Similarly, that is happening with SPARC, sharp rally, 8-10 sessions of very quiet moves. Then suddenly around 12 o’clock, you started seeing massive volumes, 27 lakhs done already, so that is a buy with a stop of 364, target of 384. This should be held on, possibly it will get to 500.

Cipla is a buy with a stop of 650, target of 675 and Tech Mahindra is a buy with a stop of 2860, target of 2980.