Avoid mid-cap banking stocks unless sectoral indices improve: Ashwani Gujral

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com in a chat with ET Now talks about mid-cap banking stocks.

Out of the mid-cap banking stocks, is there any particular stocks you like?

These stocks have gone up quite a bit. Now IOB has corrected from 180 to about 120, so slowly you can begin to buy but that would be more as an investor not as a trader. A trader buys strength and unless the sectoral indices start improving, it is difficult to buy these stocks. Bank of India again sharp correction from levels over 500, closer to 400-410, these are good stocks but now you have to be careful in your buying price because the market may not forgive a mistake in the buying price, so try to buy them on sharp declines and try to trade them up for rallies but do not try to catch trending moves because the trending may be over for a while.