Investors should buy blue chip banks: Ashwani Gujral

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, in a chat with ET Now, gives his stock picks


How should traders approach the gap down today?

If you are short, this is a good opportunity to at least take some profits, although I would have taken all but do not try to go long on this market right now. We need to wait for the selling to stop for market to get into some kind of a range before any kind of buying is done, so today you can only hope that on a gap down you get opportunity to cover shorts, that’s for traders. But investors definitely should put some of their cash to work, get into blue chip banks or blue chip commodity stocks, anything that gets an extraordinary hammering from the blue chips should be bought today.