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Feb 09, 2018 01:40 PM IST | Source: CNBC-TV18

Sell Axis Bank, ICICI Bank; buy Hindustan Zinc: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com is of the view that one can sell Axis Bank and ICICI Bank and can buy Hindustan Zinc.

CNBC TV18 @moneycontrolcom

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Axis Bank can be sold with a stop loss of Rs 560 and target of Rs 535. ICICI Bank is a sell with a stop loss of Rs 330 and target of Rs 315. Hindustan Zinc is a buy with a stop loss of Rs 292 and target of Rs 310."

"Fortis Healthcare probably is a good asset that people may want to acquire and you may get a bid at Rs 200, etc. and that is why somebody should have bought it. So probably the first step here has been taken. I think downside is maybe Rs 125-130, so, that way there could be some upside. However, these things take time in happening."

"While it is not a trade, but there is some special situation here which could work out favourably. So, right now the markets are moving lower, so look for ideas to sell into; like when we are going up you look for things to buy, right now 80-90 percent of the stocks are going down. So, I am not very excited by Fortis because these moves may not have follow through tomorrow or day after," he said.

"Yes Bank is a sell with a stop loss of Rs 334 and target of Rs 310. Piramal Enterprises is a sell with a stop loss of Rs 2,700 and target of Rs 2,550. Tata Communications is a buy with a stop loss of Rs 625 and target of Rs 650."
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