Try to get into stocks which have already had 8 to 10 down days: Ashwani Gujral

ET Now: What is your own sense of how the last week of the year would shape up?

Ashwani Gujral: Well this kind of drift down probably will continue but as I said before it is useful to buy into stocks which are already fairly advanced in their corrective cycle. Rather than get short and because the downside does not seem to be too much and not enough people seem to have participated that you will get a great correction because everybody is long. So chances are that this correction will see buying fairly quickly.

The way we are buying it is like I told you we are buying ITC, Colgate, HDFC, things which have already corrected and are probably now on their way up. So try to get into stocks which have already had 8 to 10 down days.