TTK Prestige is showing strenght: Ashwani Gujral

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com

What is your call on TTK Prestige, consumer stocks?

They are correcting. In spite of high valuations, they are not crashing down and finally after mild corrections, like TTK Prestige came down from 3000 to 2700, it slowly started moving higher and in this kind of a market if something continues to move up that shows the strength.

Just a few days back there was huge noise about Jubilant Foodworks valuations but after a correction to about 828-830 it is trading back at 900. Finally market reward strength, so these stocks post all corrections, keep a stop and if you get in you get rewarded on the upside.

It is very difficult to make money in this market on the long side because nothing gets follow through. These stocks are able to get tremendous follow through and that is why they are good for trading.