Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Bank of Baroda had a very strong downside action post the day of the results. Those levels need to be crossed for any sort of positivity to come back. So, maybe if I have to choose between SBI and BoB, probably I would go with State Bank of India. However, overall, big money does not seem to be coming into the market. So, all of these big stocks, even the buyback is exciting the stocks up to 1-1.5 percent. So, maybe you need to look at smaller stocks to make good money."
"ITC has opened 2 percent lower, so, if you can get long on Infosys and TCS while the open haven’t been great out there as well, ITC could balance it with a short trade because it has opened below yesterday’s low and yesterday was an up day. So, this is a fairly significant fall. So, I think in ITC you can go short on and may be go long on some of the technology stocks," he said.
"I don’t think it is a great idea to short metals while globally metal prices are rising. However, at some point, they will become buys. The market must bottom out to take a serious buy position. So, for the moment it is all choppy. However, on declines, metals remain a buy as well as gas stocks, which is commodity and which is probably stronger than metals. So, try to get long on the gas stocks."