Buy YES Bank on dips, says Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Even yesterday, public sector undertaking (PSU) banks were higher. So you start to go short on stocks which have turned and where there is some sort of pattern, which shows that a correction has started. PSU banks may outperform in this correction for all you know because they didn’t run up. That is how you try to conclude that maybe you are ready for consolidation because PSU banks, metals, all kinds of weak stocks are trying to move higher while the strong stocks are coming under pressure.""Infosys is going to get fairly close to its 200 daily moving average (DMA) of around Rs 1,140-1,150. So maybe if you have to start buying, that would be a good point to start buying but my sense is that this next rally is about domestic stocks. So, IT would basically remain lacklustre or sideways but if you have to buy Infosys, start buying below Rs 1,150 and keep buying till about Rs 1,100," he said."YES Bank has begun its correction and if we can get down to Rs 1,000-1,020 that would be a nice zone to start accumulation. That is just the 20 DMA if it decides to have a bigger correction. Then maybe it can fall even below Rs 1,000 but YES Bank is a buy on dip stock. So that is what you should aim on doing closer to Rs 1,000."