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Oct 17, 2016 11:23 AM IST | Source: CNBC-TV18

Short Ceat, NCC, Hindalco, IndusInd Bank: Ashwani Gujral

Ashwani Gujral of is of the view that one can short Ceat, NCC, Hindalco Industries and IndusInd Bank.

Ashwani Gujral of told CNBC-TV18, "Today it seems like the banks could have a higher opening and possibly a better than Friday. So, ICICI Bank is gapping up 1.5-2 percent. That could be a good stop loss for the day as well. So, Bank Nifty and some of the private banks could do well for the day."

"In a market that is going down, I do not think there is great value in watching stocks which are going up today. You should probably be playing on the downside and stocks which are declining other than the ICICI Bank, 4 percent, if you take that out, the market is probably below 8,550. So I would like to go short on stocks like Ceat or NCC, even stock like Hindalco Industries and IndusInd Bank," he said.

"So, other than ICICI Bank, a lot of the market is down and that is where you should be looking. Sooner or later, chances are midcap market will also follow the largecaps. The time for midcaps is probably done."
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