Right time to book profits: Ashwani Gujral

In a chat with ET Now, Ashwani Gujaral shares his views on the stock market.


ET Now: What is your view on the market and what are your stock recommendations?

Ashwani Gujral: See I do not think alarm bells ever ring at these levels of the market, but investors who entered when Nifty was at 8,000, should book at least a part of their profits and they should tighten their stop loss for Nifty placed at 8,800. If 8800 is breached, take all of it and wait for the next correction.

It is because if banks were the pillar the market was standing against, given that the Bank Nifty is down 500 points from the highs, a come back for banks would be challenging.

Hence, investors may need to book profits. It as good a time to book profits after a 10 per cent plus move in the market. As far as calls right now are concerned, JSW Steel is a 'sell' with a stop Rs 1,020, for the target of Rs 960; Voltas is a buy with a stop of Rs 263, for the target of Rs 278 and Shriram Transport is a 'buy' with a stop of Rs 1,120.

What is the call that you had made for expiry session?

Ashwani Gujral: There are still enough stocks that may see further rise. Just try to be with the strong plays, as the market still not weak (it may be sideways, consolidating). Overall this week is likely to be sideways and choppy and only post the expiry any sort of fresh trend should come in but next three to four sessions could be quite sideways.