Buy ABG Shipyard among shipping stocks: Ashwani Gujral

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, in an interview with ET Now talks about shipping stocks.

Have you been looking at the charts of an ABG Shipyard or a Bharti Shipyard for that matter?

ABG Shipyard still looks the best of the lot. It has support around 325-330. It can run up to levels of 435-440 once this Baltic dry starts picking up. Bharti Shipyard remains in a fairly strong downtrend. It is finally had support around 140 but really I would like to see it cross 180-185 to really gain any kind of strength so broadly shipping looks weak even Mercator Lines needs to get past some of the strong levels that broke down from around 44-45 to really gain traction. If I have to be in shipping may be ABG is the one.