Technical Analyst, Ashwani Gujral is of the view that ONGC is looking strong, while real estate stocks are looking weak.

Gujral told CNBC-TV18, "The stocks that are looking weak are particularly the real estate stocks: DLF, and HDIL. Tata Motors, and also Hindalco as a specific case."

He further added, "And the stocks that are looking strong are the non-budget type of stocks like Sterlite or oil marketing companies that have made a bottom, which are now looking up. ONGC is looking strong. So, you have the commodity space looking strong with the exception of Hindalco whereas all the stocks that had those capital issues and which are expecting things from the budget are showing profit booking and some amount of weakness."