United Spirits could get back towards 700-720 levels: Ashwani Gujral, Ashwanigujral.com

In a chat with ET Now, Ashwani Gujral, Fund Manager, Ashwanigujral.com, shares his views on United Spirits.

ET Now: What is your call on United Spirits?

Ashwani Gujral: There are fundamental problems with a lot of stocks. The point of buying these stocks, which are beaten up, is that they are unloved everybody. There are short positions which are trapped here and that could propel the stock higher. The stock price going up or down has little to do with fundamentals, unlike what most people would like to believe. When stocks go up and everybody sells and when stocks go down, everybody buys them. If there is some positive development, chances are that the stock could get back towards a 700-720 fairly easily. It is not breaking 630 in a hurry.