Buy HDFC , ICICI Bank on decline : Ashwani Gujral
Identify some trading opportunities for our viewers.
Ashwani Gujral: I think this was the dip that people who missed out should have used to get into. I think the bank nifty still can move up to 11380 so all of these large cap banks HDFC, HDFC Bank , ICICI Bank if you get the morning dip you need to buy. I would still be wary of PSUs although State Bank if it is down can be bought. It could have a good strong pullback rally towards 2900-2950 but overall may be on this decline get into metals because given the US recovery metals is another space which could continue to do well but I would not be bearish on techs if they are down today may be get into other stocks something like a TCS which has its own dynamics and generally tends to outperform Infosys.
You have already indicated that auto is not something which you really would prefer so let us reverse the trade, would you use the current market strength in a Tata Motors or for that matter in any other auto stock sell or to create a short?
Ashwani Gujral: For that I would wait for the market to turn because unless the market rally starts coming down your short trade will not work. So you had enough of the short trade I think it is time to probably enjoy the long trade before again its a sideways market it will again come down on some event or some thing but that trade is probably around 6100-6200 where everybody gets long so right now you do not short, right now you focus on things which are stronger.
Ashwani Gujral: I think this was the dip that people who missed out should have used to get into. I think the bank nifty still can move up to 11380 so all of these large cap banks HDFC, HDFC Bank , ICICI Bank if you get the morning dip you need to buy. I would still be wary of PSUs although State Bank if it is down can be bought. It could have a good strong pullback rally towards 2900-2950 but overall may be on this decline get into metals because given the US recovery metals is another space which could continue to do well but I would not be bearish on techs if they are down today may be get into other stocks something like a TCS which has its own dynamics and generally tends to outperform Infosys.
You have already indicated that auto is not something which you really would prefer so let us reverse the trade, would you use the current market strength in a Tata Motors or for that matter in any other auto stock sell or to create a short?
Ashwani Gujral: For that I would wait for the market to turn because unless the market rally starts coming down your short trade will not work. So you had enough of the short trade I think it is time to probably enjoy the long trade before again its a sideways market it will again come down on some event or some thing but that trade is probably around 6100-6200 where everybody gets long so right now you do not short, right now you focus on things which are stronger.
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