Sobha Developers heading to 200, JP stuck at 90: Ashwani Gujral

One word from you on some of these stocks, which have bounced back in trade today, JP Associates, India Cements, and how do the charts of a Sobha Developers look?

Ashwani Gujral: Today’s rally both on the index and on these stocks is spectacular and spectacular rallies generally do not tend to succeed, so Sobha Developers is probably now heading to levels of 200 and the others, JP and all of these infrastructure stocks, they are having their 5-6% rallies, which is a short covering rally. People will come into sell may be out here or even say a few percentage points higher but I do not see JP Associates crossing 90.

India Cements will have great trouble now crossing levels of 100, so in fact we have already gone short on the market for the record, so this is a way too spectacular, 400 points bounce back and everybody becomes a buyer again. Market needs to quieten down quite a bit before we move up sustainably.

A quick look at Wockhardt Lifesciences...

Ashwani Gujral: Wockhardt is an extremely strong stock. Throughout the decline, it never really declined and now if it crosses 425 and get to a fresh high, so in case we get past 425, you could have easily another 50-60 bucks on the upside, so this is one of the stocks if you must buy something, you should probably look at Wockhardt, which is only 25 bucks away from an intermediate high, keep a stop around 375 and this is one pharma stock that I would buy.