VIP Industries a good buy: Ashwani Gujral, Market Strategist

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com,in a chat with ET Now talks about VIP Industries.

What’s the view on VIP Industries?

After a big sharp move where it became three times of its price, 250 to 750, it is now moving sideways and it may do that for a long time. So 450 is a decent support or stop loss here.

It is a good buy for investment type people because this is the story that’s working the small-ticket consumption. The stock has corrected from about 800 to 500. So people with a longer term point of view can probably get in at these levels.

Are there any index components that have caught your eye?

Broadly, index components are on the weak side but some of these tea, coffee type plays, could be interesting. In financials, Bajaj Finserv seems to be much better than the rest. So look at the smaller stocks which may move regardless of the index.

Index is likely to be range bound before this range breaks down in either direction. So I do not think there is anything too significant on the index.