Buy Indian Overseas Bank, stop loss Rs 150: Ashwani Gujral

In a chat with ET Now, Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, shares his stock ideas.

What is the call on IOB?

It is difficult to see how only IOB would continue to rally whereas other banks keep coming down, but clearly if somebody had to bet on the banks going on the upside, probably that is the strongest bank. You keep a stop of about Rs 150 and look for Rs 175 in case banking has some pullback. So, IOB is one of the stronger banks. It has not declined in the last four days and in fact has made a fresh intermediate high. So, if you had to buy one PSU bank, this would be it.