IFCI is a very news prone counter: Ashwani Gujral, Market Strategist

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, in a chat with ET Now talks about IFCI.

You spoke about how IFCI might be a good short-sell candidate at every rally. It is at 65-65.5. Do you think it is a good price to go short on this one?

IFCI is a very news prone counter. So if you want to buy it, you buy it around say levels of 52 to about 54. It becomes a good short selling candidate above 76 to 80 - that’s where the disappointment generally tends to happen on the news that is promised.

Overall, these are not good trading stocks. The fact that something moves up 4% one day, down 5% another day makes it a bad trading stock - although the intraday move may be high. A good trading stock is you buy it on a correction and then it keeps moving higher and higher. So I would much rather go with an Infosys or TCS than trying to play daily moves on IFCI.