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Feb 16, 2017, 03.01 PM | Source: CNBC-TV18

Prefer SBI over Bank of Baroda; short ITC: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com prefers State Bank of India over Bank of Baroda and advises shorting ITC.

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Prefer SBI over Bank of Baroda; short ITC: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com prefers State Bank of India over Bank of Baroda and advises shorting ITC.

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Ashwani Gujral (more)

Technical Analyst, ashwanigujral.com | Capital Expertise: Equity - Technical

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, " Bank of Baroda  had a very strong downside action post the day of the results. Those levels need to be crossed for any sort of positivity to come back. So, maybe if I have to choose between SBI and BoB, probably I would go with State Bank of India . However, overall, big money does not seem to be coming into the market. So, all of these big stocks, even the buyback is exciting the stocks up to 1-1.5 percent. So, maybe you need to look at smaller stocks to make good money." 

" ITC has opened 2 percent lower, so, if you can get long on Infosys and TCS while the open haven’t been great out there as well, ITC could balance it with a short trade because it has opened below yesterday’s low and yesterday was an up day. So, this is a fairly significant fall. So, I think in ITC you can go short on and may be go long on some of the technology stocks," he said. 

"I don’t think it is a great idea to short metals while globally metal prices are rising. However, at some point, they will become buys. The market must bottom out to take a serious buy position. So, for the moment it is all choppy. However, on declines, metals remain a buy as well as gas stocks, which is commodity and which is probably stronger than metals. So, try to get long on the gas stocks."
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Prefer SBI over Bank of Baroda; short ITC: Ashwani Gujral

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