Nagarjuna Construction a good medium term pick: Ashwani Gujral, Market Strategist

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, in a chat with ET Now talks about his medium term stock picks.

Are there any picks that you would like to recommend over a medium term horizon for 2011?

From a medium term horizon, maybe some of the infra stocks, something like Nagarjuna Construction, IVRCL - where the downside is extremely low - if something positive comes up. These are stocks people could not lay their hands off couple of years back. So medium term, you need to look on contrarian buying.

So on a medium term basis, maybe JP Associates, IVRCL Infra, Nagarjuna Construction - just buy them and hold them and if something positive comes up, you will get 20-25% in a matter of days. So that seems to be the outlook.

Some of the infra stocks have started moving higher, some of the capital good stocks have started moving higher. So the medium term people should look at stocks in these sectors rather than trying to get into techs or metals because those are short term plays and in the medium term they could correct.