ABB looks good buy-back candidate: Ashwani Gujral

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, in a chat with ET Now, gives his views on ABB, BHEL and L&T

What about an ABB, BHEL & L&T?

I do not think this sector lead the rally before this correction. I do not think it is going to lead even now.

ABB is much of a buyback type candidate, 825 is a good support here, probably upside is capped around 925-930 but these stocks are more driven by the buyback prices. ABB, Siemens, everything seems to have some kind of a buyback.

So I do not think these are great trading stocks, so the only two trading stocks are probably BHEL and L&T. BHEL also has some kind of an FPO, so you have to be cautious with the news flows there.