Reliance Communications is an avoid: Ashwani Gujral, Market Strategist

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, in a chat with ET Now talks about Reliance Communications.

What is your take on the entire ADAG pack?

In the markets, stocks which move up or down sharply often flatter to deceive and there were certain rumours which led all of these ADAG stocks up. They are best avoided. Reliance Communications is now ranged between 120 and 145. If it can stay above 145, maybe another Rs 20 higher - 165.

But overall, none of these stocks are really showing any strength. The reason why I am not so bullish on the market is because this was led by stocks like Suzlon, ADAG which have been dogs. I would have much rather liked the financials, market leading groups to have led Friday’s rally. So I would avoid these one day wonders.