Mar 10, 2018 02:03 PM IST | Source: CNBC-TV18

Sell Tata Steel, ICICI Bank; buy Jubilant Foodworks: Ashwani Gujral

Ashwani Gujral ashwanigujral.com advises selling Tata Steel and ICICI Bank.

CNBC TV18 @moneycontrolcom

Ashwani Gujral ashwanigujral.com told CNBC-TV18, "It is clear that metals have started some sort of new downtrend. So, Tata Steel is a sell with a stoploss of Rs 625, target of Rs 590.”

ICICI Bank came off sharply whereas other private sector banks kind of held on. So, this is a sell with a stoploss of Rs 300, target of Rs 275.”

Jubilant Foodworks is a buy with a stoploss of Rs 2000, target of Rs 2150.”

“I think metals and the banks which lend those metal companies, chances are both could fall together. So, another leg of the downside on financials may open up because of metals,” he added.