Good time to build positions in private banks: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Probably Yes Bank is a buy because it has had a decent correction. It corrected to 50-day moving average (DMA) and had a strong comeback yesterday. So, this is the right time to buy Yes Bank. However, in case it gets controversial then there could be other issues which come into play." "As far as PSU banks are concerned, they had 2 percent rally yesterday,Bank of Baroda (BoB), State Bank of India (SBI), Union Bank of India, all of them are showing strength. So, possibly if we come out of this, maybe PSU banks are likely to do fairly well," he said."However, even on private banks, stocks like Axis Bank or HDFC Bank, all of them are not correcting beyond a point. So, this is a good time to build position in banks. Chances are the Bank Nifty will make fresh highs, much before Nifty or the other indices."