Bear market has taken over infra: Ashwani Gujral

ET Now spoke to Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, on his view on infrastructure space.

What would you do with an IVRCL Infra or some of the other infrastructure stocks?

When a bear market has taken over a particular sector, stocks will go to such ridiculous value that probably their building will be worth more than their market cap. We have seen Tata Steel selling at Rs 100, Tata Motors selling at Rs 60, so these stocks will also go down to similar kind of levels.

Next support obviously is Rs 84 but I would doubt the stops there, so this probably would keep going down. Now all rallies should terminate around Rs 130. The way these stocks have started falling in the last 7-8-10 days, the final kind of capitulation is now on and anybody and everybody who holds the stock is now probably getting out.