Avoid capital goods for the moment: Ashwani Gujral

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, talks to ET Now on Capital goods.

ET Now: What is the call on cap goods stocks?

Ashwani Gujral: BHEL broke down below 1900. Overtime, this will head down to about 1750. Crompton anyway crashed. So probably 160-170, it has to do some kind of base building. Again BEL is also a ranging type of stock between 1600 and 1900. So most capital goods stocks do not have any kind of momentum. Larsen, good buying price for that would be closer to about 1550. Cummins was given as a short call in the morning, that will probably get down to about 610. So capital goods is something you would like to avoid for the moment but at lower levels people who are interested can accumulate.