Buy ICICI Bank, NMDC, REC: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "ICICI Bank is a good buy at this price because Rs 260 or thereabouts is the 200-day moving average. You could get targets of about Rs 282. NMDC is a buy with a stop loss of Rs 135 and target of Rs 147. REC is a buy with a stop loss of Rs 165 and target of Rs 178." 

"Bank of Baroda is also at 200-day moving average. All of these banks have, particularly the ones which have problems, are trading around the 200-day moving average. So, this sort of news will lead to a 5-7 percent style rally. Nobody is saying they have entered a bull market, the bullish banks like Kotak Mahindra Bank, YES Bank and IndusInd Bank will remain that way. However, these banks are ready for a three to five day style move from where they will face selling again. So, for the day, PSU as well as ICICI, etc. should do fairly well."