Buy ICICI Prudential above Rs 340, says Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Banks are the weak space, so you want to get short on these private banks, PSU banks. So, chances are that space should correct before others but overall the stocks which got hammered yesterday, like DLF, Jain Irrigation, etc, if you are getting rallies there, those are probably good short candidates.""Any stock which lists, goes down and then crosses its listing price, often does several multiples of where it was. To give you a small example, Bharti listed I think at Rs 40, went to Rs 20 and then went to Rs 1,200. Facebook listed at about Rs 40, came down to Rs 22 and today is at Rs 120. So, the day to buy ICICI Prudential is the day it crosses Rs 340 and then sky is the limit because at that point everybody who has a public issue will start winning.""Once nobody is losing on a particular stock it tends to go up several multiples of where it is. At the moment while it is below the issue price, people will constantly be getting in and out because somebody is losing, somebody is making money at some point," he added.